Hi Hassan,

I wonder if you can help, how can i define the following payment term in AR :

75 days payment term, paid on the 30 of each month ? what would i enter in days ahead ?

Bal

75 days payment term means it is payables in 75 days.
I dont understand the "paid on 30 of each month" part.

Hi Hassan,

Sorry for not being clear… I want to create a 75 day End of Month payment term. On the payment schedule I want oracle to collect 100% of value on the 31st of the month I believe I would enter 31 in the “Day of Month” field. What value would I enter in the months ahead field?

A typical payment term would have following components:
1- When is the payment due? Fixed day of the month or number of days added to term date.
2- How much payment is due?
3- What are the discounts?

Example: For example Net 30 2/10 means 100% payment is due in 30 days but if paid within 10 days 2 percent discount is offered.

In your case on one side you are saying your term is 75 days. That means the payment is due in 75 days of the term and then on the other hand you are saying the payment is due on 31st day of the month.

Any ways ... In the Due tab, you only enter one of the following in order to determine the due date:
Calendar
Fixed Date
Days
Day of Month, and Months Ahead
You will enter 31 in the Day of Month.
Most likely you will not be using Months Ahead field.
Months Ahead is to cacluate the due date by adding x number of days to the cutoff day. The cutoff day is provided at scheduled payment line.