Two additional fields have been added to Debtors Terms Code Maintenance to allow more flexibility for debtors terms. All Days fields are days from the end of month with 30 days being treated as a whole month regardless of the actual number of days in a month.

 

 

The existing Days field has been renamed to Due Date Days (in our example 30 days) – this is used to calculate:

1.Invoice due dates and therefore is also used in the average payment days calculation

2.Terms code descriptions example

 

The new field Reminder Days (in our example 35 days) is used for the Send Payment Reminders program to determine if a reminder is due to be sent to the customer (please note the allowed days on the Send Payment Reminders report shows with an additional 30 days added as it works off days from start of month not end of month).

 

 

The new field Credit Hold Days (in our example 45 days) is used to determine if a customer is to be placed on credit hold given their balances and the current day of the month.

 

 

These additional fields for each terms code will automatically be populated with the same number of days as the Due Date Days. Users can edit these fields to change calculations as they require.

 

Please refer to Debtors Terms Code Maintenance for more information.