Create Payment Terms
1, Use search function to find Payment Terms
2. Enter the Payment Terms Code
3, Enter the Due Date Calculation (please refer to the section Due Date Calculation Formula for details)
4. Enter Discount Date Calculation and Discount % if any
5. Enter the Payment Terms Description.
Due Date Calculation Formula
Primer on basic date calculations:
C = Current
D = Day
W = Week
M = Month
Q = Quarter
Y = Year
CD = Current Day
CW = Current week
CM = Current month
10D = 10 days from today
2W = 2 weeks from today
D10 = The next 10th day of a month (e.g. 10th date of every month)
WD4 = The next 4th day of a week (Thursday) (e.g. Thursday of every week)
CM+10D = Current month + 10 days
-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 |
Reference: