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Former Member

Payment Terms - Due immediate considering Factory Calendar

Hi,

My requirement is to create payment terms which will be Immediate [no minimum days to allow before payment is due], and 01 through 31 representing the calendar dates in the month when the payment is due. 

The only criteria would be that it follow the same practice of using “calendar” which reflects actual business days and would push the due date to the next “business day” if the day of the month falls on a weekend, Holiday, or other day when banks are closed.

So I guess I need to create 31 payment terms through OBB8 which will have "Fixed Date" value ranging from 01 to 31.

I am not sure how to handle calendar criteria. Can it be done through payment term configuration or it will taken care automatically during posting of any FICA item?

Thanks in advance,

Murtuza

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2 Answers

  • Best Answer
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    Former Member
    Apr 03, 2013 at 11:37 AM

    Solved.

    After creating payment terms in OBB8, Create Payment conditions at below SPRO path as shown below

    IMG -> Financial Accounting -> Contract Account Receivables and Accounts Payable-> Basic Functions -> Posting and documents -> Document -> Maintain payment Terms

    Payment Condition - same name as payment term

    Description

    Incoming payments

         Terms of payment - same name as payment term

         Factory calendar ID - Factory calendar of system

         Correct Non-workday - options 1 or 2.

    Here if we choose option 1, then

    if due date falls on non working day, next working day will be taken as due date

    Here if we choose option 2, then

    if due date falls on non working day, previous working day will be taken as due date

    same way outgoing payments can also be configured in the same screen.

    Thanks,

    Murtuza

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  • Feb 21, 2013 at 03:28 PM

    Murtuza:

    Check this thread - Due Date Configuration  I do not expect that you can meet the requirement without custom logic in event 1330.

    regards,

    bill.

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