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Payment Terms functionality in Dynamics GP in previous versions had some limitations that the user couldn’t control. For example, if the payment term was a discount date term, it went to the next month and then the due date went to the following month. Some customers wish to control how the transaction due date functionality is calculated for payment terms.
In GP 2015, functionality was added so customers can manage settings for calculating the due date as well as additional methods to calculate the due date and discount dates. If transaction date is selected, the transaction due date calculation is independently calculated from the discount due date. For the Discount Date, the system will calculate this date first and then use it as the base date for calculating the due date. If None is selected for Discount Type, then the base date is set to the transaction date. The base date is the date that the calculation will use as the starting point to calculate the document due date or discount date.
The Payment Terms window has been updated as follows:
You can select if you want the base date to calculate from the Transaction Date or the Discount Date. If Transaction Date is selected, you have the option to add additional days to the transaction date to set a new base date.
Also, in Payment Terms Setup, there is a calculate action, this lets you test your payment terms settings from setup instead of entering transactions.
In the “Due” drop downs there are new selections that can apply to the Transaction Date or Discount Date. Below are definitions for all of them:
EOM - uses the last day of the month
Next Month – move to the next month and use the “Days” as the date in that month
Months – increases the date calculation by number of months
Month/Day – uses a specific day of the month
Annual – increases the date calculation by number of years
From an upgrade standpoint, all existing payment terms will upgrade and the “Calculate Date From” field will be set as follows:
I am using MS Dynamic GP 2013SP1, I have a query about payment term and Term Discount Available and Term Discount allowed.
I have a payment term as 1/10N30, if I import invoice before Discount calculation date term, GP calculates Term Discount allowed and same is reflected in Term discount taken. Accordingly it is crediting in Term Discount taken account.
When I use to import invoice with same payment term but after Discount allowed date GP is only calculating term discount allowed and keeps Term Discount taken as 0 and throwing a distribution error.
Is there any setting within GP so that I can use the same payment term and GP should not throw distribution error.
Or how I can handle this so that I will not get distribution error.
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