Advanced Terms Algorithm

The following algorithm is used to calculate due dates, if the Advanced Terms check box is selected on the Billing Terms form. This algorithm is used for invoices and vouchers.

This table describes the calculations that are performed, based on the value entered in the Prox Code field on the Billing Terms form.

Prox Code Results
0 No calculation is performed
1 If the day of the month is greater than or equal to 25, the due date is set to the first day of the next month after the invoice date.
2 The due date is set to the last day of the month in which the invoice date falls.
3 The calculation for prox code 1 is performed; then, using this result as the starting point, the calculation for prox code 2 is performed.

Next, the value of the Due Days field on the Billing Terms form is added to the result. Then the due date is determined, using the value from the Prox Day field on the Billing Terms form.

Prox Day Value Results
0 - 30 The due date is set to the specified day of the month in which the date calculated in Step 2 falls, or to the specified day in the next month if the prox day is less than the calculated date.
99 The due date is set to the last day of the month in which the date calculated in Step 2 falls.