Account management

Hi there,

I was just looking into this for a client and found that there is no perfect solution - but I have a better solution that I haven't seen posted yet.  This is how I accomplished this for my client:

Assumptions

Each statement contains bills from the 26th of the prior month to the 25th of the current month.

The statement is dated the 25th

Payment terms are 30 days

All of the bills listed on the statement are eligible for a 1% discount if paid by the 10th of the month following the statement date

There is one major restriction to this method, however.  The “30” day setting flexes the discount date depending on whether a month has 30 or 31 days.  Using this setting, bills dated the 26th of a 31 day month would not meet discount requirements at time of bill pay (i.e. a bill dated 7/26/21 would have a discount date of 8/10 instead of 9/10).  There are two solutions to this.

Solutions

Enter all bills dated the 26th as the 27th (easiest solution)

Manually apply a discount in the bill pay screen