Payment Term Calculation | IFS Community
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Payment Term Calculation

  • 8 April 2021
  • 3 replies
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Userlevel 5
Badge +8

Hi,

 

I have following requirement, please advise

 

If a supplier is 45 End of Month (45 EOM Payment Term) – they would be paid 45 days from the end of the month the invoice is received (i.e. 45 days from the end of April). So if an invoice was received today (2021-04-08), we would pay them on 14th June at the earliest (31 days in May + 14 days in June = 45 Days) .Please note that this payment term has been granted to us by the supplier 

 

In IFS, if we check “End of Month” in payment term and set 45 Days as “Days to Due Date”, system give priority to “Days to Due Date” and then apply the “End of Month” as a result due date becomes 30th of May .

 

BR

 

Champika

 

 

 

 

 

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Best answer by Nancy Fink 8 April 2021, 13:48

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3 replies

Userlevel 5
Badge +8

Did you set your number of free delivery months to 1?    

 

Userlevel 5
Badge +8

Hi All,

 

I found a way to do this with the usage of “Number of Free Delivery Month”

 

BR

 

Champika

Userlevel 7
Badge +14

Hi Champika,

 

You will be able to get the expected results as follows.

 

 

It worked as I tested.

 

 

Hope this helps.

Shehan Almeida.