We have a situation and I am not sure if I fully understand what I am looking at - and therefore do not feel comfortable calling it an error.
Here is the situation.
Client has a payment cycle and are firm on this so that is not going to change.
All invoices recieved in the month of January, whether the 1st or 31st are paid by the 29th of the following month. What they say is the DUE Date and DISCOUNT date are the same date and they are the 29th of the following month.
Payment Terms
In setting up the payment terms we currently have them configured as EOM plus 29 days for both DUE and DISCOUNT. Discount has a 2% factor.
Due Date
Calculate from : Transaction date Add Days: zero
Due : EOM Add Days: 29
Discount
Discount : EOM Add Days: 29
Discount Type : Percent 2%
Calculate Discount On - Sales / Purchase
Issue
When we enter an invoice with a DOCUMENT date of 1st of January
Doc Date : 01/01/2016
DISCOUNT / DUE dates of 02/29/2016 ( PERFECT )
This works up to the 30th of January
When we enter an invocie with a DOCUMENT date of 31st of January
Doc Date : 01/31/2016
Due Date : 03/29/2016
Discount Date : 02/29/2016
When we enter an invoice with a DOCUMENT date of 15th of February
Doc Date : 02/15/2016
Due / Discount : 03/29/2016
When we enter an invoice with a DOCUMENT date of 28th PERFECT, with 29th February
Doc Date : 02/29/2016
Due Date : 04/29/2016
Discount Date : 03/29/2016
This cycle continues for the entire 12 months. Every time I enter an invoice that is dated at the end of the month, 31st, 30th, 29th, is does the same thing. It skips the entire next month and sets the DUE to the 29th of the NEXT following month.
Request
Can I get someone to confirm that this is the case they have as well. And if I am doing something wrong, tell me how to correct. Is there a known work around for this?
