Vendor payment term on specific date

Angela Sailer
Angela Sailer
Fifth Anniversary Kudos 1 Name Dropper Participant
in Blackbaud Financial Edge NXT® General Discussions

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?

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @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
    JoAnne Thielen
    Third Anniversary Kudos 2 Name Dropper Participant

    @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
    Angela Sailer
    Fifth Anniversary Kudos 1 Name Dropper Participant

    @Kevin Brazell thank you for the information.

  • Michelle Nielsen
    Michelle Nielsen
    Eighth Anniversary Kudos 2 Name Dropper Participant

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

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