Terms of payment (modified form)

  • Article

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

Click Accounts receivable > Setup > Payment > Terms of payment.

–or–

Click Accounts payable > Setup > Payment > Terms of payment.

Use this form to define the terms of payment that you assign to sales orders, purchase orders, customers, and vendors in either Accounts receivable or Accounts payable.

Calculation of the due date

The due date is calculated based on the invoice date and the terms of payment that are specified for a purchase order or sales order. If you have not specified terms of payment for an order, the due date is calculated based on the invoice date and the terms of payment that are assigned to the vendor or customer.

If you are using a payment calendar, and the due date that is calculated is on a non-business day, the due date is moved to the nearest business day. The date is moved either forward or backward, depending on the selection in the Due date update field. For more information, see About payment calendars.

Note

The controls that are described in this topic apply only to your country/region. For full documentation of this form, see the following topic or topics:

Terms of payment

Fields

Field

Description

Cutoff day

Enter the day of the month after which the value in the Additional months field is applied when payment due dates are calculated.

Example

If the value in the Cutoff day field is 10, the value in the Additional months field is 1, and the value in the Payment day field is 25, the due dates for the following invoices would be calculated as follows:

  • If you enter an invoice that has a date of January 9, the due date is set to January 25.

  • If you enter an invoice that has a date of January 12, the due date is set to February 25.

Note

The field is available only when you select Cutoff day in the Payment method field.

Additional months

Enter the number of months to add to the payment method to calculate the due date.

Note

The field is available only when you select Cutoff day in the Payment method field.

Due date update

Select the method that is used to modify the calculated due date based on the payment calendar. The following options are available:

  • Previous business day – Use the first business day before the calculated date.

  • Next business day – Use the first business day after the calculated date.

  • No update – Use the original calculated date for terms of payment.

Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).