Invoice Due Dates

Invoice Due Dates

Invoice due data

A calculated invoice due date can be made available as a column the Worklist, and as a field in the terms pop-up information box in Task Details. The purpose of the due date is that when an accounting or approval task is nearing the due date, the invoice needs to be expedited for payment.

You can also mark invoices as urgent from INVOICES to indicate that invoices must be processed quickly.

Setup

The field in Task Details and the column in the worklist are both controlled by the configuration parameter Invoice Due Date column. When it is enabled by setting it to Y, the due date is calculated according to the specifications in this document, and the fields are shown.

Invoice due date calculation

PROCESSIT uses the plsql package D4_TERMS to handle due date calculations. The value displayed in the worklist uses D4_TERMS directly, while Task Details uses a viewlink to D4_INVOICE_TERMS_V.

PROCESSIT does not use the terms associated with the PO in the invoice header, as this value is only used to default the invoice lines with the PO number for automatic matching. If you want the Due Date to reflect terms from PO you must use Override Terms in the invoice.

Terms Date Basis Goods Received cannot be calculated until after the invoice has been imported into Oracle, so only invoices with invoice holds applied would display a value in the Worklist, for invoices using the terms date basis of Goods Received.

1. Retrieve Terms Date Basis from first occurrence of:
   • Supplier Site
   • Supplier
   • Financial System Params All.
2. The basis can be:
   • Invoice Date
   • Received Date
   • Goods Received
   • Current
3. Retrieve Terms from first occurrence of one of these values assigned to the invoice in PROCESSIT. Override Terms on the invoice or first occurrence of Terms from:
   • Supplier Site
   • Supplier
   • Financial System Params All
4. Retrieving Receipt Acceptance Days.
5. Resolve Terms Date by:

   Invoice Date	d4_invoices.invoice_date
   Received Date	d4_invoices.received_date
   Goods Received	ap_invoices_all.goods_received_date where d4_invoices.ap_invoice_id = invoice_id
   Current	sysdate

6. Determine base date using the greatest of the values goods_received_date + receipt_acceptance_days, invoice_date, or terms_date.
7. Retrieve Terms Line first installment (sequence num 1)

The invoice due date is then calculated:

Due Days

base_date + due_days

Day Of Month

if terms_due_cutoff_day < base_date_day_of_month
base_date_curent_month | terms_line.due_day_of_month | base_date_current_year
due_date = ADD_MONTHS(due_date, terms_line.due_months_forward)
else
base_date_curent_month | terms_line.due_day_of_month | base_date_current_year
					

If terms.due_cuttoff_day is less than base_date.day_of_month then use terms_line.due_day_of_month plus terms_line.due_months_forward. If terms.due_cuttoff_day is greater than base_date.day_of_month then use terms_line.due_day_of_month within the base_date.month and base_date.year. An example of invoice due date calculated from day of month:

1. cutoff_day: 14
2. terms_line.due_day_of_month: 15
3. terms_line.due_months_forward: 0
4. base_date: 1/17/14

Results in due date 2/15/14. A base_date of 1/8/14 with the same settings would result in due date 1/15/14.

Fixed Date

due_date = terms_line.fixed_date

Calendar

due_date = opther_periods.due_date where  other_periods.module = 'PAYMENT TERMS'
and other_periods.period_type = terms_line.calendar
and base_date between other_periods.start_date and other_periods.end_date
                

Oracle documentation on invoice due date

This information is part of the standard documentation for Oracle E-Business Suite available here.

Cutoff Day

For Day of Month type terms only, the day of month after which the due and discount dates of the scheduled payment will be in a future month. The exact month depends on the value you enter for Months Ahead. Payables compares the invoice terms date to the Cutoff Day. If you leave this field blank, Payables always uses the current accounting month to determine the due and discount dates. For example, your Cutoff Day is 11, your Months ahead is zero, and your Day Of Month due date is 15. If you enter an invoice with a terms date of January 12, Payables will set the due date for February 15. If you use Due Days or Fixed Date type terms, do not enter a cutoff day.

Day of Month

Payables uses the value you enter here to calculate a due or discount date for a scheduled payment. For example, enter 15 to have Payables schedule payment for the 15th day of the month. Enter 31 if you want to have Payables schedule payment for the final day of the month, including months with less than 31 days.

Months Ahead

For Day of Month type terms only. Payables uses the value you enter here in conjunction with the Cutoff Day you enter to calculate the due or discount date of a scheduled payment line. If you enter zero in this field and the terms date of an invoice is the same as or later than the Cutoff Day, then Payables uses the day in the Day of Month field for the next month as the due date of an invoice payment line. If you enter 1 in this field, Payables uses one month beyond the next month as the due date. You cannot enter a value in this field if you enter a value in the Due Days field.