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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Discount due date next...
Microsoft Dynamics GP (Archived)
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Discount due date next month

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Posted on by Daisy_P 435

I have a vendor whose payment terms are 5% 15th of the next month but can't figure out how to setup the terms.  For the regular due date you can select next month but not on the discount date.  Does anyone know how to do this or do I have to manually override the discount date on every invoice?

Thanks for your help.

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  • Community Member Profile Picture
    Community Member on at

    What Microsoft Dynamics product are you using?

  • Daisy_P Profile Picture
    Daisy_P 435 on at

    Microsoft Dynamics GP 10.0

  • L Vail Profile Picture
    L Vail 65,271 on at

    Have you tried using the grace period settings? I don't remember if grace periods for the discount were available in version 10. For each vendor you can specify a grace period for the due date, and a separate grace period for the discount date.

    kind regards,

    leslie

  • Matthew Zurosky Profile Picture
    Matthew Zurosky 35 on at

    Did you find a solution to this?  I am having a similiar issue.  If I setup this term as Due: Next Month 15th and Discount: Date 15th... the payment terms kick the due date out by 30 days when the actual discount and due date should be the same.

    Any help is appreciated.

    -Matt

  • Matthew Zurosky Profile Picture
    Matthew Zurosky 35 on at

    I was able to figure this out for my scenario.   If you set the Due Date to Net 0 Days and set the discount date to Date 15th.  It calculates the Due date to the 15th of next month and sets the discount date to the same.

    Hope this helps.

  • Daisy_P Profile Picture
    Daisy_P 435 on at

    The only problem with that is that my due date is Net 45 so it should have 2 separate dates for me.  Also, if it is dated 1/5/13 it shows due 1/10/13 instead of 2/10/13.  Any other suggestions?

  • L Vail Profile Picture
    L Vail 65,271 on at

    Question for Daisy,

    What is the exact term? You get x% discount if you pay when? And when is the Net due?

    So for an invoice dated 1/05/2013 - it's due in 45 days, that's 02/19/2013

    When and how much of a discount can you get if you pay early?

    Leslie

    Question for Matthew,

    The vendor gives a 5% discount if you pay the bill by the 15th of the following month.

    Please tell me if I'm understanding this - here are some scenarios:

    I get a bill dated 02/01/2013, I get a 5% discount so long as I pay it by 03/15/2013

    I get a bill dated 02/28/2013, I get a 5% discount so long as I pay it by 03/15/2013

    So, if I get a bill earlier in the month, I get more time to pay without losing the discount. Is that right? No matter what, the bill is due the 15th of the next month. If it's not paid by then I'm past due, is that right?

    Thanks!

    Leslie

  • Daisy_P Profile Picture
    Daisy_P 435 on at

    The terms are 5% 15th of the following month, net 45.  So if the invoice is dated 1/1/13 I get a discount if paid by 2/15/13.  That would also be the due date since it would be 45 days.  If it is dated 1/28/13, I get a discount if paid by 2/15/13 but it wouldn't be due until 3/14/13.  For the example you used, the due date would be 2/19/13 and the 5% discount would be available to take until 2/15/13.  

    Thanks for your help!

  • L Vail Profile Picture
    L Vail 65,271 on at

    G6138.edit-due-date.png"/resized-image.ashx/__size/550x0/__key/CommunityServer-Discussions-Components-Files/32/6663.payment-terms.png" border="0" />

    what you get is the correct Discount  Date, but the due date is calculated as 45 days after the discount date. Right now, the only out of the box solution is to open the Edit Posted Documents window and change the due date. If you own Modifer with VBA you can update the due date after you save the record.

    You could  write a stored procedure in SQL that runs periodically, or on demand, to update the tables. Something like this:

     

    UPDATE    SOP30200

    SET              DUEDATE = SOP30200.DOCDATE + 45

    WHERE     (SOP30200.PYMTRMID = '15% 15th, Net 45')

     

    UPDATE    RM20101

    SET             DUEDATE = RM20101.DOCDATE + 45

    WHERE     (RM20101.PYMTRMID = '15% 15th, Net 45')

     

     

    Or, from the GP User Interface you could use the Edit Receivables Transaction window to change the Due Date of the record. Open the window by selecting Edit Transaction Information from the Transactions menu on the Sales Area Page. The window looks like this:

  • Renee Leung Profile Picture
    Renee Leung 6,775 on at

    Hi Leslie,

    I do have the same question as Matt's scenario. How would you setup properly for that scenario? Would we do as Matt suggested and have the settings be set to Net 0 days and discount date 15? How does GP calculate these payment terms? Thanks!

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