How can I setup payment terms for a customer who has 45 days from end of month?

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  • Updated 3 years ago
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How can I setup payment terms for a customer who has 45 days from end of month?

All I can see is Standard - due in xx amount of days or date driven due before the xx day of the month.

Neither of these options will work. I need 45 days from the last day of the month, this could range from 75 days (1/6/2014) to 45 days (30/6/14) as an example.

Thanks,

Bryan
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Bryan

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Posted 5 years ago

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Kevin V. Russell, Accredited Partner

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Bryan you cannot. That's an very odd request.
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Bryan

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Thanks Kevin,

I have similar terms with a few customers. I am surprised is seems that odd.

Perhaps they can make some changes in later versions.

Bryan
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Kevin V. Russell, Accredited Partner

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I'm surprised you are surprised. I've only been a bookkeeper for fifteen years and I've never heard of it before. One thing I'd like to do that reckon doesn't allow is eom after eom.
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Mirko, Alum

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Hey Bryan,

I managed to get this work with a bit of tweaking (and help from my colleague John).

I made an invoice on 10/07 22/07 & 25/07 and with the settings in the image below managed to get due date of 15/06 for all of them.



Try this out.

- Mirko
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Kevin V. Russell, Accredited Partner

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Mirko mate, try it with February 1st. It gives you 43 days. Like I said, Ive tried every permutation of this and I don't think it will work. Cheers.
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Mirko, Alum

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Granted Kevin, it may be possible if you set up 4 permutations which coincide with whether the next month has 28,29,30 & 31 days. It's getting way out there but it's possible, not very pretty at all though!

Easiest would be to set up singular rule for 28 day month as each month has 28 days, but would not give you true representation of 45 days in 11 out of the 12 months in a year, and 12/12 in a leap year.

I'll send off both your (EOM after a EOM) and Bryan's feedback to development for future consideration.

Thanks!
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ARC BookKeeping, Accredited Partner

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Hi ya All,

I have just had a play....
Is my maths wrong or does this work..... give it a try... 


please tell me I am wrong cause it is doing my head in....lol

Cheers
Angie Carlyle
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ARC BookKeeping, Accredited Partner

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Think i have answered my own question..
Invoice dated 1/1/14 would be due 45 days from 31/1/14 which is 17/3/14 not 15/3/14 which is what would generate with the above.... so they would only get 43days not 45days and on months with 31 days in the middle they would get 46days .....

so no it doesnt work

 bugga...
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Kevin V. Russell, Accredited Partner

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With the most humble and sincere respect that is what I said at the outset. I have been over this year's ago. It simply can't be done.
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Sheryl Anson

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I also have several customers who have invoice terms of 30 days from end of month so the number of days varies depending on when the invoice is issued.  Hope someone has an answer.
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Sally McIntosh, Accredited Consultant, Accredited Partner

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Hi Sheryl,

I have just had a play and it seems that if you enter due 30th and next month 30 days it works. Assuming you accept the 28th February as the "30th" of the month.

I tried 31 days, but that does 2 months if the invoice is raised on the 31st.

Kind regards,

Sally McIntosh (sally@samsolutions.com.au)

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Kevin Russell, Accredited Partner

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Yeah Sally that doesn't give you eom+45. Thanks
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Sally McIntosh, Accredited Consultant, Accredited Partner

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No it doesn't Kevin, but Sheryl was asking for 30, not 45.
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Kevin Russell, Accredited Partner

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Sally when did the topic heading change?

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Sally McIntosh, Accredited Consultant, Accredited Partner

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It didn't. Sheryl asked a similar but different question. So rather than starting a new post, she commented on this post and I answered for her.
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Kevin Russell, Accredited Partner

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Oh Sally that's okay. I thought I must be going mad.
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Kevin V. Russell, Accredited Partner

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Sheryl it cannot be done. This has been done to death already. The only possible work around is to change the due date manually on the invoice every time. I can appreciate you would like a fix but I think accepting it isn't possible might be helpful at this stage.
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Sheryl Anson

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Thanks Kevin...
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Kevin V. Russell, Accredited Partner

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No problem Sheryl, this is what I do.
Hello Bryan, Depending how serious you would like to get this fixed, as there is no straight solution within Reckon Accounts, we have been looking at this issue,we can get you tool installed which will automatically set the terms from 30 days to 75 days without you doing it manually. However, we cannot achieve this in Hosted version. We are at this moment trial stage of hosting Reckon Accounts ourselves and be able to provide this tool. we would say we can finalise the trial stage in next 3 months time or so. if interested contact us on :chandra@cosmicaccountinggroup.com.au
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Paul Roseblade

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This reply was created from a merged topic originally titled How do I set up custom payment terms 45 days from end of month, in Accounts Accou....

I need to set up custom payment date terms for a customer who pays 45 days from the end of the month that the invoice was raised. I have Accounts Accounting 2014. Can anyone help?
Paul, look at my above comments above , its possible.
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Kevin Russell, Accredited Partner

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Chandra sorry mate, it isn't. Cheers
not possible within Reckon, yes, but we can do it thru add on tool , as i said above.
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Kevin Russell, Accredited Partner

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Oh well that's alright then.


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Tracey Brown

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Did this ever get fixed? Drives me crazy that I can't send accurately aged statements. It's a basic necessity and makes us look very unprofessional.

I am very surprised that a bookkeeper of 15 years hasn't heard of these terms from EOM. I've been working in accounts for over 20 years and have never worked in a company that doesn't have 30 days from EOM terms.
(Edited)
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Kevin Russell, Accredited Partner

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Tracey no it isnt fixed. And it wont be. All the development in RA desktop has stopped. Cheers

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