Recalculating A/P Pay Dates

Use this utility to select all payables that have a pay date less than or equal to the date specified in the Pay OnStart Dateand Pay On End Dateparameters for the selected branches, vendors, and payment terms. This utility helps you take advantage of discounted terms by leveraging a net due date if an invoice is not paid within the standard discount period. The system recalculates the pay date on associated payables.

The system does not update records when the following conditions exist:

The payable does not have terms that provide discounts.
The payable's pay date is later than the run date.
The payable does not reflect an amount owed to the vendor.

You can use the Preview option on the utility to review your information prior to running the update. After the update is complete, the system sends a report to Your Hold Files detailing which payables were updated and indicating what the new pay date is.

Note: You must have the AP.ALLOWED level 2 to run the report.

To recalculation the A/P Pay Date:

From the A/P > Reports menu, select A/P Pay Date Reconciliation to display the A/P Pay Date Reconciliation utility driver.
In the Branch/Territory field, enter the branch, branches, or territories for which you want to run the report.
Use the Pay OnStart Date and Pay On End Date fields to define the date range by which invoices should be addressed up to and including the dates you enter.
In the Pay-To Vendor field, enter one or more vendors for which you need to manage invoices.
In the Payment Terms field, enter the ship-from vendor's payment terms, as designated in the Terms Code field on the Vendor Maintenance window for vendor. The system populates selections when you enter a vendor. For more information, see Terms Maintenance Overview.
Select Recalculate Pay Day When Manually Overridden if you want to recalculate pay days even if the date has been manually overwritten on the payable.

If the recalculated Pay On Start Date is greater than the original discount date, the discount amount always recalculates regardless of the originally applied discount or if the amount was edited. The Do not Take Discount If Pay Date Is Past Discount Datecontrol maintenance record must be set to Yes for the discount amount to be changed.

Note: The system does not recalculates pay dates for invoices with split pay dates.

Set options and run the utility, or schedule the utility to run at a later time.