"Day limit" in terms of payment

[Former Member]

hi all,

can someone explain me the purpose of the below fields in terms of payment, preferably with scenario ?

day limit

fixed day

additional months

Regards,

Surya

[Former Member]

Hi

Below are the explainations

1.Day Limit - Day Limit Field which you find under Payment Term is for giving the Day Limitations.. ex : if Business says that they want to give Discount of 2% for the Invoices Posted till 15 th of evey month. and 0 % for the Invoices Posted after 15th to 31.

when you give 15 in Day Limit Field - the system checks for the Invoices posted till on or before 15th and for invoices Posted after 15 , discount will not calculated.

2.Fixed Day - If Business decide to Give discount if the Payment is done on a perticular day or date then we give here tht date.

ex:15th of every month.

3.Additional months - if the discount and Payment Due date should be next month or comming month ..we use this Field. Ex : for an invoice posted on or before 15 of this Month the Net Due date should be 20 of Next month then ,we create the Payment term

day Limit -15, Fixed date 20 and Addtional Month 1

Hope the above explaintations clarify your doupts.

Thanks

Goutam

[Former Member]

Hi

Below are the explainations

1.Day Limit - Day Limit Field which you find under Payment Term is for giving the Day Limitations.. ex : if Business says that they want to give Discount of 2% for the Invoices Posted till 15 th of evey month. and 0 % for the Invoices Posted after 15th to 31.

when you give 15 in Day Limit Field - the system checks for the Invoices posted till on or before 15th and for invoices Posted after 15 , discount will not calculated.

2.Fixed Day - If Business decide to Give discount if the Payment is done on a perticular day or date then we give here tht date.

ex:15th of every month.

3.Additional months - if the discount and Payment Due date should be next month or comming month ..we use this Field. Ex : for an invoice posted on or before 15 of this Month the Net Due date should be 20 of Next month then ,we create the Payment term

day Limit -15, Fixed date 20 and Addtional Month 1

Hope the above explaintations clarify your doupts.

Thanks

Goutam

[Former Member]

Hi Goutham,

Thank you for the explanation. In our system, the same is not working. The baseline date is doc. date and we have no discount.

What could be the reason for the pmt term not working?

regards,

surya

[Former Member]

Hi,

Can you give the Details how you created the Payment term and wht are your requirments

Thanks

Goutam

Edited by: Goutam78 on May 17, 2011 6:29 PM

[Former Member]

Hi,

Pleae Provide the details how you have created the Payment Term. and also wht is the requirment, based on this I can help you in rectifing the issue and confirm wher the problem is .

Thanks

Goutam

Edited by: Goutam78 on May 18, 2011 4:24 PM