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| | | ---------------Original Message---------------
From: Dave Thornburgh
Sent: Friday, September 09, 2011 2:23 AM
Subject: Automatic Payment Run
Sijo -
"Maximize Cash Discount" in FBZP is your problem. I assumed you had not set it.
This choice when set means: always take the discount, even after the discount (and grace) period has expired. It also means that your grace period customized is having no effect at all.
For your invoice dated the 1st with terms of 1/10n30, what this means is that in your payment run on the 15th, with the end of the discount period at the 18th, and the next payment run on the 22nd, there is no need to pay the item this time, since the due date is the 31st and it can be paid on the run of the 29th (basically, it does not have to be paid before the 22nd).
If there were an APP101, this would be on the final exam.
Dave |
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