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author's profile photo Former Member
Former Member

PAYMENT TERM

hI GURU

There is a Payment term of 90days end of the Month, and the Due date supposed to calculate as 31.08.2008 but has printed as 30.08.2008.

The query is why 30th agu is printed rather than 31st as the last day for aug is 31st (Not a week end,not a holiday ).

value points will assigned

thanks

sunitha

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  • Best Answer
    Posted on May 27, 2008 at 01:49 PM

    Hi sunita,

    The system calculate 90 days since document created and does not used the calendar.

    To get your needed due date you must define on Payment terms a fixed day: 31 and additional months: 3.

    Regards

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    • Former Member Former Member

      Hi,

      If you want payment to be due in 90 days, then you should not use the 'Fixed date' option - enter 90 in 'No. of days' field in line 1. of 'Payment terms' section. If you want the due date to be the last day of the month in which 90 days expire, then do not enter anything in 'No. of days' field; instead, enter '31' in 'Fixed date' field and '3' in 'Additional months' field (as explained by a couple of members above). Now, in your case (it looks like) you have entered '30' in 'Fixed date' field and hence system is determining due date as 30.08.2008 - to rectify this replace 30 with 31 in your payment term (OBB8).

      Hint: Always enter 31 in 'Fixed date' field. If the due date falls in September, system determines due date as 30.09.2008 as day 31 does not exist in September.

  • author's profile photo Former Member
    Former Member
    Posted on May 27, 2008 at 02:25 PM

    Hello sunitha

    Due dates decided basing on the baseline date, suppose if ur baseline date i.e 30.05.2008 and payment terms 90 days, then due date counts from 30.05.2008

    Exp. posting date 31.05.2008

    baseline date 30.05.2008

    payment terms 90 days

    due starts from baseline date only. generally document date/invoice date will be appearing in baseline date column by default.

    In such a case check ur baseline date and check the due date.

    I hope it will clarify your doubt.

    Regards

    Madhav

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