Calculating due dates using payment terms

You can now set up payment terms for each supplier and then the system will calculate the due dates for the supplier invoices based on these payment terms. We can have standard payment terms like 7 days, 14 days, 21 days, etc which can be assigned to the suppliers. When the invoice comes, the system will add the number of days (as setup in the payment terms) to the invoice date and then show it in the due date field.

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Getting Started 

- Setting up Payment terms

Before you can assign the payment terms to the suppliers, you will first need to set up the payment terms options for your suppliers. To do so simply follow the steps below

• Login as an Admin/Payer 
• Click on SETUP on the left-hand side toolbar
• Then click on Payment Terms link
• Once on the payment terms page, enter in the payment terms Code, select the relevant payment terms option via the drop-down box, and then simply click Enabled to mark it as active. ( TIP- you may unmark any payment term at any time if it is no longer required and inactive.

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- Assigning payment terms to suppliers

Once the payment terms have been setup, they can be assigned to the suppliers.

• Click on SETUP then click on Suppliers.
• Once you are on the Supplier page, select the relevant Supplier. 
   

( For assistance in setting up your supplier please see below)

https://ProSpend.clickhelp.co/articles/#!supplier-set-up-ag/supplier-setup 

• Once you are on the relevant Supplier Page, simply scroll down to Payment terms and select the relevant option for the supplier. 

Please note that this will need to be actioned for each individual supplier

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- Creating supplier invoices

• Once the payment terms have been set up and linked to the suppliers, the system will calculate the date dates for the supplier invoices based on the terms (number of days, day of the month, etc).
• If the due date is present on the invoice, the system will populate that into the due date field. It will ignore the due date calculated by the system based on the terms.

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