AP Due Date based on invoice received

[jimmymac]

We are on E1 9.0. Our AP dept as been asked to pay invoices based on 30 days from when the invoice is received not the invoice date. They still want to enter the actual invoice date but calculate the due date based on when the invoice was received by the company.

It would appear you can set up a due date rule in advanced payment terms and we could base that off of the service/tax date. So the user when entering a payables voucher to pay an invoice, they would key the invoice date as the invoice date, the current date will be the GL date and the date the invoice was received would be entered in the service/tax date.

Then the due date rule over the service/tax date would give us what we want.

Any disadvantages seen to this approach? or alternatives?

 

[JdeInNJ]

This will work to calculate a due date, however if you are calculating use/sales/vat taxes, you could calculate them incorrectly. The tax/service date is used to retrieve the tax definition.
<ul type="square"> [*]Invoice date = 12/28/13 [*]Receipt date = 1/7/14 [*]Tax rate through 12/31/13 = 7% [*]Tax rate starting 1/1/14 = 8% [/list] If you are self-assessing use taxes, the use taxes will be calculated at 8% based on the service/tax date instead of 7% based on the invoice date.

Unfortunately there is no way to directly use the receipt date for the based-on date.