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author's profile photo Former Member
Former Member

Payment term by fixed date

Posted on Aug 01, 2006 at 08:17 PM 9 Views

Hi,

I need to create payment term by fixed date

For e.g 2% discount if paid by Oct 31

Net Nov 1

Can anyone let me know how to proceed

thanks

FIN (Finance)
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1 Answer

  • author's profile photo Former Member
    Former Member
    Posted on Aug 01, 2006 at 10:14 PM

    Create a payment term with the following terms:

    1. Percentage = 2%, Fixed date = 31

    2. Percentage = 0%, Fixed date = 1, Additional months = 1

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    • Former Member Former Member
      Aug 02, 2006 at 05:47 PM

      Hi Clive,

      My questions is related to ur answer..can u please explain why asked me to give add month as 1

      User wants 2% discount if he pays before Oct 1..i.e still we have 3 months (aug,sept oct) so by just putting fixed date as 31, will it not count on the Aug 31...

      so am not sure how to proceed..if u can explain..will really appreciate