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Extended Credit Terms on Specific Invoices - Will this reflect on EOM statement

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MishT
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Extended Credit Terms on Specific Invoices - Will this reflect on EOM statement

HI ,

 

We have been offering a few clients extended 60 days terms on specific ( larger ) orders and are looking at offering extended terms on pre-Xmas delivery orders.

We know how to update the terms on customer card /sales , however wanted to confirm if when we generate EOM statements if MYOB wil take into account the new extended 60 day terms and reflect thsi on the statement so that the invoices are not due in 30 days but rather the 60 days.

We need to ensure that the EOM statements are consistent with the 60 day terms/due date  reflected on the individual invoices

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SamaraM
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Re: Extended Credit Terms on Specific Invoices - Will this reflect on EOM statement

Hi @MishT 

 

Welcome to the Community Forum. There are 2 things that are happening here:

1. Customer Statement will look at the due date on the individual invoices, not the customer card.

2. Updating a customer card it will not affect past invoices. 

 

For this reason, If you have created an invoice which is due in 30 days, then update your card to be due in 60 days, the invoice you created before the change will remain as 30 days, and the invoices after the change will bring the new 60 days, so as long as you changed the card first then it will have 60 days on the invoice. 

 

If you wanted to double-check the terms are correct, you can open the invoice, then click on the arrow next to terms and check the due date is correct (and alter if needed).

 

For a more detailed explanation on updating terms, see our Help Article: Credit terms.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Regards,
Samara

MYOB Community Support

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MishT
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Re: Extended Credit Terms on Specific Invoices - Will this reflect on EOM statement

Thankyou Samara - This is perfect

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