Date Ranges

You set up date ranges at the time that you set up due date rules. If you specify a date range for a due date rule, the system uses the last day in the range in conjunction with the months to add, the days to add, or a fixed date. If you do not specify a month to add, days to add, or a fixed date, the system assigns the last day of the range as the due date.

For example, if you set up a date range from the 10th to the 25th of June and you do not specify a fixed date or months and days to add, the due date of the payment is June 25th.

The ranges cannot overlap, and they must include a full month (the 1st through the 31st). The system always uses the last day of the month, regardless of the number of days in the month, when you specify fixed days as 31.

When you set up a date range, you can specify the number of months to add along with the number of days to add or the fixed date. However, you cannot specify both the number of days to add and a fixed date. The types of date ranges that you can specify are:

• Months to add.

• Days to add.

• Fixed date.

• Months to add and days to add.

• Months to add and fixed date.

When a due date rule contains a date range, the system first calculates the due date based on the components within the rule, such as the months to add or fixed days. Then the system uses the date range to complete the calculation. For example, the system reads these components to calculate the due date on an invoice:

• Based-on date: invoice date of January 10.

• Months to add: 1.

• Fixed days: 1.

• Date ranges:

  • From day 1 to day 1 with days to add of 30.

  • From day 2 to day 31.

The system adds one month to the invoice date and uses the fixed days of 1 to calculate a due date of February 1. Then the system reads the first date range and adds 30 days to calculate a final invoice due date of March 3. Based on this setup, the second date range will never be used in the calculation.