Due dates worked out, not counted on fingers
Set each term once: net days, end of this month or the next plus days, or a fixed day of the month. Every customer and vendor carries a term, and each document’s due date is calculated from its date and that term.
- Term
- End of month + 30 days
- Invoice date
- 14 March
- End of month
- 31 March
- Due date
- 30 April
Goes through · Due on 30 April, calculated when the invoice is saved
How a term reaches the invoice
Define the term
Choose how it counts: days after the document, days after the end of this month or the next, or a day of the month.
Offer it
Mark a term for customers, vendors or both, and give each customer and vendor the one they trade on.
Raise the document
The document starts with the party’s term. Choose another when this deal differs.
The due date follows
The due date is calculated from the document date and the term.
Details that matter
Short months handled
A fixed day of 31 falls on the last day of a shorter month, so February still has a due date.
A passed day rolls forward
A document dated after this month’s due day is due on that day next month.
Only offered terms are taken
A customer document takes a term offered to customers, and a vendor document one offered to vendors; any other is refused.
Questions buyers ask
Can each customer have their own term?
Yes. Every customer carries a term, and their documents start with it.
Can we use a different term on one invoice?
Yes. Choose another term offered to customers, and the due date is worked out from that one.
Do vendor bills work the same way?
Yes. Vendors carry a term too, and their bills’ due dates are calculated by the same rule.