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Getting vendor terms to work correctly

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Posted on by 55

I have terms set up and assigned to vendors but when I run an aging it seems to default to 30 days.

so for example if

 

invoice date is June 27th and vendor terms are 30 days, the amount shows up in current bucket

invoice date is June 27th and vendor terms are 10 days the amount still shows up in current bucket even though it’s past due.

What do I need to do to get it to report correctly on aging?

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  • RE: Getting vendor terms to work correctly

    As Richard stated, go to Transactions | Purchasing | Edit transaction information, and pull up the vendor and invoice # to check the DUE DATE on it for sure.  If it's not showing in the right aging bucket, then run the Reconcile utility for the vendor and check again.

    Cheryl

    Microsoft Support

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: Getting vendor terms to work correctly

    Has this report been modified? If you pull up these documents what is shown as the due date? Are the correct payment terms listed on the invoice?

  • Darin722 Profile Picture
    Darin722 55 on at
    RE: Getting vendor terms to work correctly

    using document date.

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: Getting vendor terms to work correctly

    Are you aging by Due Date or Document Date?

  • Suggested answer
    Beat Bucher  GP Geek  GPUG All Star Profile Picture
    Beat Bucher GP Gee... 28,021 Super User 2024 Season 1 on at
    RE: Getting vendor terms to work correctly

    Hi Darin,

    Are you trying to change Vendor Terms after the fact ? Not sure that will work as GP calculates the Due Date based on the Vendor card at the time the invoice is created...

    To test the new terms, you'd have to create a brand new document which would then read the terms from the card.. Try that out in a TEST company.

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