Payment Terms - Due immediate considering Factory Calendar

[murtuza_chhatariya]

Hi,

My requirement is to create payment terms which will be Immediate [no minimum days to allow before payment is due], and 01 through 31 representing the calendar dates in the month when the payment is due. 

The only criteria would be that it follow the same practice of using “calendar” which reflects actual business days and would push the due date to the next “business day” if the day of the month falls on a weekend, Holiday, or other day when banks are closed.

So I guess I need to create 31 payment terms through OBB8 which will have "Fixed Date" value ranging from 01 to 31.

I am not sure how to handle calendar criteria. Can it be done through payment term configuration or it will taken care automatically during posting of any FICA item?

Thanks in advance,

Murtuza

[william_eastman]

Murtuza:

Check this thread -   I do not expect that you can meet the requirement without custom logic in event 1330.

regards,

bill.

[murtuza_chhatariya · Accepted solution]

Solved.

After creating payment terms in OBB8, Create Payment conditions at below SPRO path as shown below

IMG -> Financial Accounting -> Contract Account Receivables and Accounts Payable-> Basic Functions -> Posting and documents -> Document -> Maintain payment Terms

Payment Condition - same name as payment term

Description

Incoming payments

     Terms of payment - same name as payment term

     Factory calendar ID - Factory calendar of system

     Correct Non-workday - options 1 or 2.

Here if we choose option 1, then

if due date falls on non working day, next working day will be taken as due date

Here if we choose option 2, then

if due date falls on non working day, previous working day will be taken as due date

same way outgoing payments can also be configured in the same screen.

Thanks,

Murtuza