obb8 term of payment by month

[Former Member]

hi,

there is a case where the term of payment is count by month and not day.

example the term is 30 days.

the invoice date whether on 28-02-2012 or 02-02-2012 or 14-02-2012, the due is the next month which is march 2012. when come march, any day also consider due.

meaning if 30 days, the next month is due. if 60 days, say invoice date 13-02-2012 then when entering May 2012, it is due.

any setting in obb8 can configure this? if i put 30 days then system will add 30 days to baseline date (invoice date) being the net due date. this is not what we want.

Hope can get advice.

Thanks

[Former Member]

Hi Srina,

When your defining payment terms in the TC OBB8. Here you have to select on the posting date, invoice date, doucument date under the subject line. If you select the posting date then caliculate on the posting date onwards to 30 days of the due date.

Ex: Posting date is the 28-02-2012, Next due date is the 27.03.2012 is the due date of the invoice.

Meanwhile your eligiable for cash discount also. If you have any payment terms also. then you can define the payment terms also.

Ex: Posting date 28.03.2012,Due date is the 27.03.2012.

If you paid within 7 days you will eligiable for cash discount with some percentage (For ex:3%)

If you paid within 14 days you will be eligible for cash discount with some percentage( For Ex: 2%)

If you paid within 30 days you will not eligible for cash discount also.

The above conditions are when we have payment terms in the PO then you can define the payment terms also.

I hope it will help to you above suggestions.

Thanks & Regards,

Venkatesh

[ramakrishna_ailanani]

Hello,

In OBB8 update the filed "Day Limit" as "31".

You can achive your requirement.

Thanks and Regards

A.Rama Krishna

[jyoti_singh3]

Hello Srina,

There is a field in the terms of payment, base line day (fixed day and additional month). IF you put any number in the fixed day (say 7), the invoice posted before  7th of the the mont will be due on 7th.

We have similar functioanlity for months as well.

Please simulate it in your test system and you would be able to find an answer.

kr

Jyoti

[Former Member]

Hi,

If I fix the date then it goes by date.

But now is we need to go by month. Say the term is 30 days, that means whichever day within the month, say September, then whichever day in October is considered due.

Even if the baseline date is 30 Sept, when entering Oct, it is considered due.

Any advice?

Thanks