Setting Up Due Date Rules
Access the Due Date Rules Revision form.
The fields for Advance Payment, Distribution Date, Deliver Percent, Based On, and Distribution Amount are used for contracts only. The system displays these fields only if the processing options is set for Due Date Rule Revision (P00146).
- Due Date Rule
Enter a code that specifies how the system calculates the discount due date or the net due date.
When you add a rule to a date range, the system always uses the last day of the date range to apply the rule. For example, if you specify a range of 1–15 and a rule that adds 3 days, the system calculates the due date on the 18th if the based-on date is between 1 and 15. The system does not add 3 days to each day specified in the date range; it adds three days to the ending date of the range.
- Based on Date
Enter the date from which the system calculates the net due date and discount due date. Values are:
Blank and 1: Invoice date.
2: GL date.
3: Service/tax date.
Note: For installment payment terms, the based-on date that is assigned to the net due date rule and the discount due date rule applies to the first installment only. Each subsequent installment uses the net due date calculated from the previous installment as the basis for calculating the next due date.- Days to Add
Enter the number of days that the system adds to or subtracts from the date specified in the Based on Date field to calculate the discount due date or the net due date on the invoice or voucher. Specify negative days to subtract days from the based-on date.
- Fixed Days
Enter the day on which the payment is due. The system uses this field in conjunction with the value in the Months to Add field to calculate the discount due date or the net due date on the invoice or voucher.
For example, if you enter 20 in this field and 1 in the Months to Add field, and the Based on Date field is 1 (invoice date), the system calculates the due date as the 20th day of the month following the date specified for the invoice date.
- Months to Add
Enter the number of months to add to or subtract from the date specified in the Based on Date field to determine the discount due date or the net due date. The system uses this field in conjunction with the Fixed Days field and Days to Add field to calculate the due date.
For example, if you enter 20 in the Fixed Days field and 1 in the Months to Add field, and the Based on Date field is 1 (invoice date), the system calculates the due date as the 20th day of the month following the date specified for the invoice date.
If you specify a fixed date that is after the date range, you do not need to specify months to add; the system automatically uses the fixed date of the next month. For example, if the date range is 21–31 and the fixed date is the 10th, the system uses the 10th day of the following month. It does not assign a due date that is prior to the based-on date.
- Calendar
Enter the name of the calendar that differentiates between working days, holidays, weekends, and so forth, and must exist in the Workday Calendar table (F0007).
The system uses this field in conjunction with the Work Day Rule field to determine the due date if the system calculates the due date on a weekend or holiday.
- Work Day Rule
Enter a code that specifies whether to include nonworking days in the due date calculation and whether to change the due date if it is on a nonworking day. Values are:
Blank: Use the due date that the system calculates regardless of whether it is a nonworking day.
1: Do not include nonworking days in the due date calculation.
For example, if the system adds 15 days to the invoice date to calculate the due date, and weekend days are specified as nonworking days, the system does not count them when it adds the 15 days. Therefore, if an invoice date is June 1 (which is a Wednesday), the system calculates the due date on June 22.
2: Include nonworking days in the due date calculation unless the due date is on a nonworking day. If the due date is on a nonworking day, change it to the next working day.
3: Include nonworking days in the due date calculation unless the due date is on a nonworking day. If the due date is on a nonworking day, change it to the previous working day.