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How do you setup terms of 2% 10th Net 30? My current setup is making the due date 30 days after the 10th but the payable should be due 30 days after the day of the invoice. My current setup is Due: Net Days 30 Discount: Date 10 Discount Type: Percent 2 Calculate Discount On: Sale/Purchase
The terms should calculate as follows: Invoice Date 6/25/10 Discount date 7/10/10 Due date 7/24/10
The current terms calculate incorrectly as follows Invoice Date 6/25/10 Discount date 7/10/10 Due date 8/10/10
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Don,
This a transcript from Microsoft on this issue when I posed the question:
Hello Mariano,
I hope that you are doing well!
You have posed a very good question and is something that I have seen in the past also. This issue was entered as Bug ID 3630 (Payment terms calculating due date incorrectly). Here are a few details related to this bug:
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Description: Payment terms are calculated incorrectly when using net days for due date and using date for the discount date.
EX: Payment Term: Due: Net 30
Discount: Date 25th
Discount: 2%
Doc Date: 1/20/98
Discount Date: 1/25/98
Due Date: 2/24/98 (s\b 2/19/98)
So, The due date is being calculated as 30 days past the discount date rather than the invoice date.
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We were informed that this is by design and has been so since the first Microsoft Dynamics GP release. We were also informed that many of our customers are using this design as is and so it is not going to be that easy to change it. We need to have additional functionality that can be requested via MS Connect to accommodate both calculations (the existing one and the one that you have brought up) in Microsoft Dynamics GP.
I have checked Microsoft Connect and I did not see any suggestions related to this feature as of yet. I believe that this is a very good product enhancement and so I would like to encourage you to enter it using the following steps:
2. Log in or sign up to Microsoft Connect (signing up is free and you can use your existing live ID to create your account with Microsoft Connect).
3. Once you are signed in, you have the option to Search Existing product suggestions or Create New product suggestions.
Note: Our Product Managers regularly look through these suggestions to determine what should be included in future releases. When submitting new suggestions, we recommend you first search to see if another community member has already entered a similar suggestion.
Thanks for all the help Mariano.
This all points to a bug. I would have expected the system to calculate the Net 30 based on the invoice date, not the due date. I will report this to MS to see if this is "as designed" or if it's in effect a bug.
I did not want to confuse the thread by talking about both vendor terms but I do have two seperate terms setup Neither works correctly. The 2% Discount date 25, net days 30 also calculates incorrectly. Both payment terms calculate the due date 30 days from the discount date. The 2% 10th net 30 sets the due date on the 10th of the following month and the 2% 25th net 30 sets the due date to the 25th of the following month.
I need the due date to calculate 30 days from the date of invoice.
Leslie is right with her setup. If you set the payment term as follow this should work:
Due: Net Days, 30
Discount: Date, 10
Discount Type: Percent, 2
This should work. However, your problem is that GP only supports one payment term per document, so if you assign the 10th as a discount date, you will not be able to assign the 25th to the same document. The vendor is doing this to be fair to customers who buy on after the 10th of the month, but before the 25th (only so, this would make sense). So, here is what I suggest:
1. Setup both payment terms: 2% 10th NET 30 and 2% 25th NET 30.
2. Like the trigger in article, set a SQL trigger on PM20000. You will want to create the logic to assign the proper payment term and calculate the proper due date and discount date based on the invoice date. So, for example,
Invoice date: 6/25/2010; Due Date: 7/24/2010; Discount date: 10th
, would get assigned the payment term of 2% 10th NET 30.
Invoice date 6/10/2010; Due Date 7/09/2010; Discount Date: 25th
, would get assigned the payment term of 2% 25th NET 30.
So, it's safe to say that any invoice dated from the 25th of the month of the invoice and the 9th of the following month would get assigned the 2% 10th NET 30, and any invoice dated between the 10th of the month and the 24th of the current month, would get assigned the 2% 25th NET 30.
As I said, you may be able to do this with a SQL trigger.
However,
This is different then EOM + Net Days because the due date is always 30 days from the date of invoice. The problem that GP Dynamics is calculating due date 30 days from the discount date.
Don,
Your case is starting to sound awefully similar to this one I posted in an article last year on my blog at "End of Month + Net Days" payment terms due date calculation. Please confirm if this is the case.
Yes, That is basically how the vendor works their terms. Except they offer two discount dates (10th or 25th).
Don,
I'm sorry, I mis-read your post.
Let me summarize to make sure I understand now. No matter what the date of the invoice, if it is paid by the 10th of the month then they get a discount. So, if the invoice was dated 07/08/10, they would only get the discount if they paid by 07/10/10. The invoice would be due 30 days after 07/08/10 regardless.
Is this correct?
Kind regards,
Leslie
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