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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Invoice Due Date
Microsoft Dynamics GP (Archived)

Invoice Due Date

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Posted on by Eri Yamaguchi 1,210

Hello, 

Sales Transaction Entry - Document Type: Invoice

I would like to know how GP calculate Due Date. Is it calculated by using Invoice Date and Payment Terms?

Which timing is Due Date determined, when it is saved or posted?

Please advise me.

Thank you. 

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  • Mariano Gomez Profile Picture
    Mariano Gomez 26,225 on at
    Re: Invoice Due Date

    Invoice due dates are calculated based on a number of factors, but primarily on the payment term assigned to the customer card. Payment Terms are an integral part of the system and company setup procedures. Please take a look at Part 3 - Company Setup, Chapter 14 - Shipping Methods and Payment Terms, Section: Payment Terms of the Microsoft Dynamics GP System Setup Guide online manual provided with your Microsoft Dynamics GP application.

    You will also want to take a look at Part 1 - Setup and Cards, Chapter 4 - Customer Cards, Section: Setting Up Customer Credit, Payment, and History Options of the Microsoft Dynamics GP Receivables Management Guide online manual provided with your Microsoft Dynamics GP application for more information on how different payment terms work with discounts and payment grace periods.

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    Re: Invoice Due Date

    To add to Mariano's reply, the Due Date is calculated using the Invoice Date (the Date field at the top right of the transaction entry window) and the Payment Terms.  The Payment Terms will initially default from the customer, however they can be changed on any individual SOP or Invoicing transaction by clicking on the blue arrow next to the Customer ID.  Additionally the Due Date can be manually changed on every transaction if necessary by typing in the desired Due Date.

    Neither the date the invoice is saved nor the date it is posted play a part in the Due Date calculation unless you have some custom process running to do that. 

  • Eri Yamaguchi Profile Picture
    Eri Yamaguchi 1,210 on at
    Re: Re: Invoice Due Date

    Hello Mariano and Victoria,

     

    Thank you very much for your reply. I checked the online manual and clicked on the blue arrow next to the Customer ID, but I could not find how to change the Due Date manually. Could you advise me please?

     

    Best regards,

     

  • Ron Wilson Profile Picture
    Ron Wilson 6,010 on at
    Re: Re: Re: Invoice Due Date

    EY,

    The only way I can think of to change the due date manually, would be to change the invoice date.  If you have a customer who is Net 30 and you are going to post the invoice today 5/11/2010, but you want it to be do 5/31/2010 then you need to change the invoice date to 5/1/2010.  Then when the invoice is posted, it will calculate 30 days from 5/1/2010 instead of 5/11/2010.

    You can also change a due date after the invoice has been posted, but that is by modifying the invoice date as well and running your aged receivables.

    Ron

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    Re: Re: Re: Invoice Due Date
    To change the due date manually before an invoice is posted, I would use the Payment Terms.  You can create an unlimited number of Payment Terms in GP to accomplish what you need.

    To change the due date manually after an invoice is posted, go to Transactions > Sales > Edit Transaction Information, find the invoice and change the Due Date.

    Ron, I do not recommend changing the invoice date.  Changing it before an invoice is sent to the customer can have unintended reporting and revenue recognition repercussions.  Changing it after it has already been sent to the customer can result in a big mess for the collections team.
  • Ron Wilson Profile Picture
    Ron Wilson 6,010 on at
    Re: Re: Re: Re: Invoice Due Date

    Thanks for the help Victoria. 

    We keep all of our months closed except the current month that is open.  This way we can guarantee that something isn't posted in a previous month.  We never post in the future either.  Do you still think we should do it your way?

    Ron

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    Re: Re: Re: Re: Re: Invoice Due Date

    Ron,

    Changing the date before printing/sending the invoice is probably not a big concern in your case.  However, once an invoice is sent to the customer, I do not think anything should change on it with the exception of the due date.

    Say you're talking to a customer about their payments, maybe they are late, or are questioning an invoice...  They have an invoice dated 5/12, but you have the same invoice dated 5/1.  Well, that just looks bad.  Now what if this happens to 20 invoices for the same customer?  You'd be chasing a moving target trying to reconcile this customer's account.  Or you send a statement to the customer and what's on it does not match up to what they have in their system.  This could cause a big waste of time on their end and yours.  We actually had this come up with a customer - they had customized their invoices to use the GL posting date, which was the batch date in their case, instead of the invoice date.  Caused a big hassle for the AR and collections departments until it was resolved. 

    The due date is something entirely reasonable to change - payment terms are worked out, customer gets an extension, etc.  And this can be done easily using the GP user interface.  If you have to change something directly in SQL, that should always be the last resort and only when absolutely necessary.  (Just to confirm, that's what you're doing?  Or am I missing something?)

    If you are doing this in SQL, I don't believe changing the invoice date directly in the tables will update the due date anyway, you'd have to also update the due date itself.  It may put the invoice in a different aging bucket on the trial balance if you're aging by invoice due (as opposed to due date), but if you reprint that invoice, GP will not recalculate the due date after it's been posted.

  • Ron Wilson Profile Picture
    Ron Wilson 6,010 on at
    Re: Re: Re: Re: Re: Re: Invoice Due Date

     

    Thanks for the reply Victoria and sorry to take over the thread.  No I am not changing it in SQL, I am changing it via the GP interface Transactions->Sales->Edit Transaction Information.  I use that to change Due Dates on posted invoices.  Once the invoice has been posted, we do not change the invoice date we will only change the due date.  The only time we will change an invoice date is before posting.  Say it is something that "slipped" through the cracks and didn't get invoiced on the proper day.  We will change the invoice date to the day that it should have been invoiced (as long as it is in the same month) or the first day of the open month (if it is not in the same month).

    Does that make sense?

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    Re: Re: Re: Re: Invoice Due Date

    Ron,

    Yes, that is fine then.  I guess I misunderstood what you meant by this:

    [quote user="Ron Wilson"]

    You can also change a due date after the invoice has been posted, but that is by modifying the invoice date as well and running your aged receivables.

    [/quote]

  • Ron Wilson Profile Picture
    Ron Wilson 6,010 on at
    Re: Re: Re: Re: Re: Invoice Due Date

     Yea I didn't say that right at all did I?  :)  I meant change the invoice DUE date and running your aged receivables.  Thanks Victoria.

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