Vendor payment term on specific date

Angela Sailer

We set up vendor payment term “Due on the 15th” and it looks that payment term on a specific date is not working. Does anyone else has this issue or know how to set the payment term for a specific date?

Kevin Brazell

@Angela Sailer
the terms isn't designed for a specific date on a month. The terms are there for functions like Net 15, 30 etc. So you use the terms to say based on the invoice date, set the due date 15 days /30 etc after that. Historically used for vendors that offered a discount by paying within those time frames.

JoAnne Thielen

@Angela Sailer I have been asking for this feature for years, but there is no option to have a vendor terms set up to be payable on a specific day of the month.

Angela Sailer

@Kevin Brazell thank you for the information.

Michelle Nielsen

@Angela Sailer we set as due upon receipt for those, that way they get paid on the next payment date and are not missed.