| Due date calculation |  |
| Several methods exist to determine the due date of an invoice or of a payment schedule line. In the Payment Terms (tcmcs0113s000) session, you can specify how ERP LN determines the due dates. The invoice's document date (date of creation) is the base for the due date calculation. The final due date is determined by the following details: The following details in the Payment Terms (tcmcs0113s000) session: The payment period The payment period is the number of days or months that is added to the invoice's document date before or after calculating the due date to obtain the actual due date. The due date calculation method The algorithm for calculating the due date. The fixed payment days Specific days of the month, on which payments are due. If you specify fixed payment days, ERP LN changes the calculated due date into the next fixed payment day. You can specify up to three fixed payment days, for example, the first, the tenth, and the twentieth day of each month. The payment calendar For pay-by business partners and for your own financial company, you can optionally define a payment calendar. If the calculated due date is marked as a holiday on the payment calendar, ERP LN changes the due date to the previous working day or, in some situations, to the next working day. This results in the actual due date. For details, refer to To use payment calendars. The extra days after due date In the Pay-by Business Partner (tccom4114s000) and the Pay-to Business Partner (tccom4124s000) sessions, you can enter a number of extra days in the Extra Days after Due Date field. For example, the number of days that the bank needs to transfer the money. The Extra Days after Due Date field is used in Financials to: Calculate the expected payment date in the Sales Invoices (tfacr1110s000) session Maintain the expected payment date in the Purchase Invoice Cash Dates (tfcmg3111m000) session Calculate a cash flow forecast on the basis of the expected payment date in the Update Cash Forecast (tfcmg3210m000) session. Related topics Due date calculation methods Payment schedules – overview Credit control |