The If Paid By dates available on customer statements convey what the customer needs to pay by that date to stay current and it includes any Invoice with an available discount by that date. This allows the customer to take full advantage of available discounts and avoid Finance Charges.
Setup
The If Paid By Date includes only open invoices meeting the following criteria:
- The Invoice has a discount available through the specified If Paid By Date.
- The Invoice does not have a discount term and the Invoice due date is on or before the statement due date.
For example, Customer A has the following Invoices:
- Invoice #1 has a discount available until 7/10/2021 and the invoice due date is 7/30/2021
- Invoice #2 has no discount and an Invoice due date of 7/20/2021
- Invoice #3 has a discount available 8/15/2021 and the Invoice due date is 2/15/2021
- Invoice #4 has no discount and an Invoice due date of 8/15/2021
The following dates are set on the statement criteria:
- If Paid By Date - #1 = 7/10/2021
- If Paid By Date - #2 = 7/15/2021
- Due Date = 7/31/2021
If Paid By Date #1 would include Invoice #1 with its discount, Invoice #2, and Invoice #3 and its discount. It would not include Invoice #4 because it has no discount available and the due date of the Invoice is past the statement due date.
If Paid By Date #2 would include Invoice #1 with no discount (the discount expired on 7/10/21 so is no longer available), Invoice #2, and Invoice #3 and its discount. Again, Invoice #4 is not included because it has no discount available and the due date is past the statement due date.
The If Paid By Dates work the same on Balance Forward, Open Item, and Combo Statements.
