Grouped Invoices Due Date
The invoice term is a common requirement for grouping invoices. For example, you can group multiple invoices with Net 30 terms if they meet the grouping criteria despite having different due dates.
When you create the invoice group, all invoices within that group follow one common due date set on the invoice group. This due date is calculated based on applying the term on the transaction date on the invoice group record.
The following example illustrates how the due date is calculated for Customer A.
|
Transaction |
Date |
Term |
Original Due Date |
|---|---|---|---|
|
Invoice 1 |
January 1 |
Net 30 |
January 31 |
|
Invoice 2 |
January 15 |
Net 30 |
February 14 |
Invoice Group A contains Invoice 1 and Invoice 2. If the transaction date on the invoice group record is set on January 15, then the invoice group due date becomes February 14.
Therefore, the new invoice due date for Invoice 1 will change to February 14. The invoice due date for Invoice 2 doesn't change because it is the same as the invoice group due date.
Related Topics
- Invoice Groups Management
- Creating an Invoice Group
- Viewing the Invoice Group Record
- Viewing an Individual Invoice in an Invoice Group
- Adding an Invoice to an Invoice Group
- Removing an Invoice From an Invoice Group
- Invoice Groups and Closed Periods
- Accepting Payment for an Invoice Group
- Generating and Printing an Invoice Group PDF
- Invoice Groups and Customer Statements
- Invoice Group Reporting and the A/R Aging Report