Due date calculation methods - Days

Several methods exist to determine the due date of an invoice or payment schedule line.

In the Payment Terms (tcmcs0113s000) session, you can select one of the following due date calculation methods

  • Only if the period type for the payments is Days:

    • End of Fifteen Days
    • End of Ten Days
    • End of Week
End of Fifteen Days

Fortnights start on the first, the 15th, and the 29th day of the month.

Example

Purchase invoice PUR 20000123 has the following details:

  • The document date is 2007-02-23.
  • The payment period is 10 days.
  • The period type for the payments is Days.
  • The due-date calculation method is End of Fifteen Days.
  • No fixed payment days are specified.

The due date is calculated by adding the payment period to the first day of the next fortnight after the document date.

The first day of the next fortnight after 2007-02-23 is 2007-03-01.

The resulting due date is 2007-03-01 + 10 days = 2007-03-11.

End of Ten Days

For the End of Ten Days due-date calculation method, due date is calculated by adding the payment period to the first day of the next multiple of ten days after the document date. Multiple of ten day periods start on the first, the 11th, the 21st, and the 31st of each month.

Example

Purchase invoice PUR 20000123 has the following details:

  • The document date is 2007-02-13.
  • The payment period is 10 days.
  • The period type for the payments is Days.
  • The due-date calculation method is End of Ten Days.
  • No fixed payment days are specified.

The due date is calculated by adding the payment period to the first day of the next fortnight after the document date.

The first day of the next multiple of ten days after 2007-02-13 is 2007-02-21.

The resulting due date is 2007-02-21 + 10 days = 2007-03-02.

End of Week

For the End of Week due-date calculation method, the due date is calculated by adding the payment period to the first day of the next week after the document date. LN retrieves the first day of the week from the Companies (ttaad1100m000) session of Tools.

Example

Purchase invoice PUR 20000123 has the following details:

  • The document date is 2007-02-13.
  • The payment period is 10 days.
  • The period type for the payments is Days.
  • The due-date calculation method is End of Week.
  • The first day of the week in the Companies (ttaad1100m000) session is Sunday.
  • No fixed payment days are specified.

The due date is calculated by adding the payment period to the first day of the next week after the document date.

The first day of the next week after 2007-02-13 is 2007-02-17.

The resulting due date is 2007-02-17 + 10 days = 2007-03-27.

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