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Direct Debit due date alignment

Former Member
0 Kudos

Hi,

we have fixed day due date for direct debit customers, for example 1st of every month, 2nd of every month, etc.. Now If I bill customer on 1st or 2nd then based on document date it becomes due on same day and next day FPY1 picks this debt and sents to bank for collection- so customer have very less time to pay their debt

I wan to avoid the debt becoming due on same day for direct debit customers so could you please advice how to acheive the same? any configuration changes required.

Accepted Solutions (1)

Accepted Solutions (1)

william_eastman
Advisor
Advisor
0 Kudos

Vinod:

You can set up proxy payment terms - which are designed to meet this exact requirement. e.g. if created before 15th of the month, then due date is 25th of current month. if created after the 15th, then the due date will be the 25th of the next month, etc. this is done in the FI payment terms config.

Or you can provide logic in event 1330.

regards,

bill.

Former Member
0 Kudos

Hi Bill,

thanks for your help, could you please provide the exact steps and example to set up payment term for 5th of every month, i will replicate the same in my system and for al lthe date i want...

apologises to for asking this but we are badly struggling with this

former_member316563
Participant
0 Kudos

Hi Vinod,

I assume that since the due date is on 1st and 2nd of every month. Invoices created on and after the said dates mentioned will be due on the 1st or second of next month.

Go to the following path to create payment terms for fixed dates.

_IMG > Financial Accounting (New)> Accounts Receivable and Accounts Payable > Business Transactions> Incoming Invoices/Credit Memos> Maintain Terms of Payment _

Create a new payment term and choose the document date in the Default baseline date and in payment terms choose fixed date 1, 2,or 5 as required & also give 1 for additional months.

In FICA use this payment term and also mention the factory calender.

If the above mentioned config does not work you may also explore to use the option of *Day limit" at the time of creating payemt term in Accounts Receivable and Accounts Payable.

Hope this helps.

Satyajeet

Answers (0)