We are making Vendor payments in the Payment Journals.
The Vendor has 2% 10NET30 terms.. Setup as:
10D Discount Date Calculation..
However when posting the Payment, the Discount is not applying, even if paid within the terms, dates specified.
If we manually add a Date to the Pmt. Discount Date (in the Apply Entries screen, it will apply the discount).... However Should that date fill in automatically based on the Vendor Term, Document Date, and Discount terms?
Thoughts? What are we doing wrong?
Hi Chad,
Have you confirmed if the Vendor card has this Payment Term code defaulted on it? Is it possible that the transaction(s) in question were created before this payment term was assigned to the Vendor card? Also, was the definition of the Payment Term code changed recently (i.e., was this payment term code initially create without any discounts, and were the discount date calculation and discount % added at a later time?)
If that the case, it will only apply to transactions created after this change was made. Ongoing transactions may not automatically pick it up unless you change/reset the Payment Terms code; and posted transactions will definitely not use the new discount terms.
Here's how you can check:
1. If you have any unposted transactions for the vendor, do check on the Purchase Order / Invoice card if this Payment Term code appears there. It would be good to remove the Payment Terms code, tab out of that field, and then set it again for the transaction.
2. For Posted transactions, you can look at the Posted Purchase Invoices to see if the transactions have this Payment Term code showing there on each of them. If the code is not showing there, then it is not strange that you are not seeing the Pmt. Discount Date on the Vendor Ledger Entry.
I just ran a test transaction in Business Central, and it works as expected.
You noted that this is historical data, so I supposed this open A/P was imported using the General Journal or Purchase Journal. It looks like the Payment Terms Code was not correctly set during the import process (or the Discount terms and % were not set on the Payment Term Code when you imported the transaction). That's why it did not populate the Discount related fields (amount, date, etc.) on the Vendor Ledger Entry.
I hope this helps. If my response has answered your question, please verify by clicking Yes next to "Did this answer your question?"
To clarify, we are entering some historical data, these is NOT from the Suggest Vendor Payments workflows.
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