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Create Payment Terms
1, Use search function to find Payment Terms
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5. Enter the Payment Terms Description.
Due Date Calculation Formula
Primer on basic date calculations:
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-1Y = 1 year ago from today
Due Date Formula example
Formula | Due date calculation (from “Document Date”) |
30D | 30 days |
2W | 2 weeks |
D5 | The next 5th day of a month |
CM+10D | Current Month + 10 days |
Due date calculation example
| Document Date | Due Date Calculation | Due Date |
| 11/5/2021 | 10D | 11/15/2021 |
| 11/5/2021 | 2W | 11/19/2021 |
| 11/5/2021 | D10 | 11/10/2021 |
| 11/5/2021 | WD4 | 11/7/2021 |
| 11/5/2021 | CM+10D | 12/10/2021 |
| 11/5/2021 | -1Y | 11/5/2020 |
Complex due date calculation example
Case example 1 - yearly due date
a) if document date is before July 31, the due date is Jul 31 of the year.
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| 10/15/2021 | 5M | 3/15/2022 |
| -CY | 1/1/2022 | |
| +7M | 8/1/2022 | |
| -1D | 7/31/2022 |
Case example 2 - quarterly due date
a) due date on 1st Monday after beginning of the next quarter from the document date
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