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Is it possible to set payment terms to pay on a particular day of the week:
So if an invoice is due on Friday 5/13/16 and you payment is on Thursday 5/12/16 you would have pay the invoice a day early. However if the invoice is due Monday 5/16/2016 you won’t have to pay that invoice until Thursday 5/20/2016. So sometimes you have to pay 3 days early and other times you pay 4 days late.
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Short of a customization, I can't see how you can set up GP to automatically calculate the right due date. However, what you could do is simply use the right cut off date when selecting your invoices for payment. For example, let's say you're running your check batch on Thursday 5/12 and you must capture everything due on of before 5/15. Just enter 5/15 as your cut off due date. GP will capture everything due through 5/15. If you're not using the Select Checks process, then the user selecting the invoice for payment will have to actually look at the dates.
Another alternative would be to create a custom report that lists what is due so that your users can select those invoices manually.
Terms are 60day, but we need to pay the vendor every Thursday.
So if an invoice is due on Friday 5/13/16 and you payment is on Thursday 5/12/16 you would have pay the invoice a day early. However if the invoice is due Monday 5/16/2016 you won’t have to pay that invoice until Thursday 5/20/2016. So sometimes you have to pay 3 days early and other times you pay 4 days late.
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