Can someone let me know how IFS is calculating disc_days_cnt in payment_term_disc table.
payment terms 1/15 Net 30 have 22 days calculated. we have ‘Tolerance Days for Discount’ set as 5 in customer master.
Thanks
Userlevel 7
+21
KHALIDU,
Hope that my example helps out a bit. Most I've used a payment term that is way to simple.
In this case there are 10 days to the due date. The customer will get 10% discount if they pay within 4 days of the invoice date. 3% discount may be deducted by the customer if it pays within 8 days after the invoice date.
On an instant invoice the results for discount can be seen:
Dependent on the layout of your invoice, this will be shown on it as well:
Hope this helps. If not, prepare a screenshot of the payment terms settings (as I did in figure 1).
Steve
Userlevel 6
+11
Just to add few words about "Tolerance days for Discount". This is applicable when you register the customer payment. Normally, supplier expect that customer will pay the installment amount on of before the discount date specified on installment (invoice). But, if there is a delay to receive the payment to supplier side, supplier can grant an additional tolerance days for discount.
Take the above example with a tolerance date setup:
Discount Date 1st installment: 2020-06-01,
Tolerance days for Discount: 5 days
Customer might pay on 2020-05-30. But, if the payment is transferred to supplier side on 2020-06-02.
But, still customer will get the discount since payment is received within the tolerance period.
Note: If you have't defined Tolerance days for Discount in customer level, the value defined in the company level will be applied.
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