Due Date Rules

Before you set up advanced payment term codes, you must define the rules that the system uses to calculate due dates for invoices and vouchers. You can set up as many due date rules as necessary.

You can set up a due date rule for either a discount due date or a net due date. After you set up due date rules, you set up the advanced payment term code that uses the rule and you specify a discount percentage, if desired. Thus, the due date rule is linked to the advanced payment term code and discount percentage to define:

• Default payment term code for a customer or supplier.

• Payment term code for a specific invoice or voucher.

• Payment term code for a specific invoice or voucher pay item.

You can verify that the due date rules that you set up are correct by using the Simulator program, which is available from the Due Date Rules Revisions program (P00146). The Simulator program enables you to perform multiple tests on due date rules without entering transactions.