| Table of Contents |
|---|
Create Payment Terms
1, Use search function to find Payment Terms
...
5. Enter the Payment Terms Description.
Due Date Calculation Formula
Primer on basic date calculations:
...
-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 |
Example on complex due date calculations:
Case example 1 - yearly due date
a) if document date is before July 31, the due date is Jul 31 of the year.
b) if document date is after Jul 31, the due date is Jul 31 of the following year.
Calculation formula can be 5M-CY+7M-1D, calculation b/d as below:
a) Document Date before Jul 31
...
b) Document Date after Jul 31
...
Case example 2 - quarterly due date
a) due date on 1st Monday after beginning of the next quarter from the document date
Calculation formula can be 3M-CQ+WD1, calculation b/d as below:
Reference: