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Type identifies the type of method for calculating due dates and discounts. There are two calculation types:
| • | "Invoice Date" takes the entered document date and calculates the discount date by adding the number of days in Discount Days/Date. Similarly the due date is the document date plus the number of days in Due Days/Date. An invoice with a date of 6/7/00 and terms with a Discount Days/Date of 10 and Due Days/Date of 30 would have discount and due dates of 6/17/00 and 7/7/00 respectively. |
| • | "Day of Month" refers to the calendar day of the month. An invoice with a "Day of Month" terms with a Due Days/Date of 10 would be due on the 10th of the current month if the document date was earlier then the 10th and due on the 10th of the next month if the document date was the 10th or later. The "Day of Month" method also makes use of Minimum Days. If the interval between the document date and the due date is less than the value entered in Minimum Days, then the due date is extended until it reaches the minimum. For example, an invoice dated 6/7/00 has a "Day of Month" due date of 10. Minimum Days is 7. The interval between the invoice date of the 7th and the due date of the 10th is only three days. The minimum of 7 days will be added to the invoice date so the new due date will be 6/14/00. Minimum Days is not used by the "Invoice Date" method. The discount date is calculated in the same manner for the "Day of Month" method, as is the due date. |
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