Draft Maturity Date Calculation and Processing

When you save a voucher, PeopleSoft Payables automatically calculates the draft maturity date and the draft scheduled maturity date using the scheduled due date, sight code, and holiday values.

For example, suppose that your supplier's sight code is two months and the basis date for this sight code is the scheduled due date. The scheduled due date for the payment is March 21. After the system calculates the draft maturity date, the draft maturity date is May 21 (March 21 plus two months). Because May 21 is a bank holiday, the draft scheduled maturity date is adjusted one day, making the adjusted maturity date May 22. The draft scheduled maturity date is used by the Payment Posting process to create settlement accounting entries, to debit draft clearing accounts, and to credit cash accounts.

Now suppose that you have two vouchers from the same supplier with the following information:

Description	Field Name	Date
Scheduled pay date	SCHEDULED_PAY_DT	September 1, 2006
Draft maturity date	DFT_MAT_DT	October 1, 2006
Draft scheduled maturity date	DFT_SCHED_MAT_DT	October 2, 2006 (assuming the maturity date October 1 is a Sunday)

If you create a payment for these two vouchers in the Pay Cycle process, the payment will have the following dates:

Description	Field Name	Date
Draft issue date	CREATION_DT	September 1, 2006
Draft maturity date	DFT_MAT_DT	October 1, 2006
Payment date	PYMNT_DT	October 2, 2006

Note:

You can manually override the draft maturity date and the adjusted draft scheduled maturity date during scheduled payment, but the voucher payment schedule due date must be before or equal to the draft maturity date or the adjusted draft scheduled maturity date.