Enter Payment Term Base Date

Explanation

This activity is used to enter a payment term base date on the Customer Order/Order Details tab. The payment term base date will be passed on to the invoice, when it is created and used as the base for payment term calculations to calculate the due date for the invoice. That is, Due Date = Payment Term Base Date + Number of Days in Payment Term. When creating the invoice, the payment term base date will, by default, be equal to the invoice date unless another date has been entered and transferred from the customer order.

If the invoice date and the payment term base date are different, changing the invoice date on the invoice will not update the payment term base date. The payment term base date itself can be modified without affecting the invoice date. Therefore, this feature enables full control of the calculation of the payment due date. Note that if the payment term base date is changed on the invoice, this will have no reciprocal effect on the customer order, i.e. the payment term base date on the order will not be automatically updated.

Price and tax calculations are controlled by the Use Price Incl Tax option. The default setting for this option is retrieved from the Customer defined in the header. If not, it is retrieved from the Company/Tax Control/Supply Chain tab. If the customer order is created from a sales quotation, then the setting for this option is retrieved from the sales quotation. The value can be changed before saving, if necessary.

Prerequisites

System Effects