Payment Term - Speific Due Date

hi @GayanD,

You can set specific due dates in payment term. Please refer below screen preview.

Best Regards

Narmada

Thanks Narmada.

But I think that is a specific Day. Eg 1-31. We need to set a date.

Regards

Could you please expand on your requirement a bit more? Is this a specific date regardless on when the invoice was done in the year, or is there any information in the invoice/contract that determines which date of the year this is?

I’ve seen a similar requirement for subcontracts and sales contracts where the payments have to be made on the e.g. 5th of each month regardless of when an invoice was raised rather than e.g. 30 days of the invoice date. But in this scenario we used fields in the invoice to trigger the e.g. 30 days from a specific date to achieve the desired.

Hi,

We have invoices that they are paid on a specific date of the year Eg- May 31. The payment term should not be based on Invoice Date. It is fixed and any invoice created until that day need to due on that fixed date.

Thanks

Thank you for the response.

I believe the way to deal with this would be to not use the invoice date, but instead amend the payment term base date (this defaults to the invoice date but can be amended on both supplier and customer invoices). I suggest using a new payment term with a specific date name and description with an installment set to 0 days, and use a CRIM to automate or can be managed manually if it’s low quantity of invoices where this applies, to change the Payment Term base date as the payment date you wish the invoice to be paid. This will ensure the payment due date is then the correct date of the year as required. but the Invoice date will then stay as the actual invoice date.

Thanks Kalpa

This solves the issue..