The system calculates the due date according to the " Collection - Payment Schedule" based on customer account information.
Collection - Payment Plan Selection
If this plan is not defined in the customer master account, you can select a predefined plan from the "Collection - Payment Plans" window under the "Sales" tab. When you select the plan, the system displays the Maturity - Cash Flow Information. Then you must save the document.
Calculating Maturity Dates and Possible Amounts for Different Sales Rates
There may be different terms for different sales quantities. In this case, you can add this plan with the "New Term Line" button. For example, you and your customer agree on a collection plan where 50% of the total sales transaction amount is to be paid on the invoice date and the rest is to be paid one week later. You can add a new term line with Day = 0 and Rate = 50, and then add another line with Day = 7 and Rate = 50 and save. The system will automatically calculate the dates and amounts.
Note: If you want to change the maturity - cash flow information that is automatically displayed according to your "Collection - Payment Schedule" selection, you must first delete the "Collection - Payment Schedule" information.