Payment Terms To Be Calculated As Credit N Days from the End Of The Month
(Doc ID 2500904.1)
Last updated on JUNE 09, 2020
Applies to:Oracle Fusion Payables Cloud Service - Version 18.104.22.168.0 and later
Information in this document applies to any platform.
We have a scenario where the payment due date to be calculated as the explained below:
If the Payment Term is E45 - Credit 45 days End of Month - and if the invoice date is 01/11/18, then the due date will be end of the month in which the 45th day occurs, say in our case, 45 days will be 15/12/18 and the end of the month will be 31/12/18. So, the Invoice due date needs to be 31/12/18.
Similar case, we have E15, E30, E60.
Please suggest how to handle this as Payment Terms.
If Invoice date is 12/12/18 and Payment Terms is E15, then the Due Date has to be = Invoice Date + 15 Days --> End of Month.
Which will be 12/12/18 + 15 days = 27/12/18 ---> End of Month will be 31/12/18.
So, in the above case, the due date will be 31/12/18.
The above logic is applicable for other payment terms such as E30, E45, E60.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document