RE: Prox Terms

["Lois White" <lwhite@xxxxxxxxxxxxxxxxxx>]

Hi Marc,
  We also use the "2% 10th Prox" but we use a net due of 30.  Like you I had
a terrible time getting it to work consistently.  The only way I could get
the terms to work is to have the billing clerk maintenance them every month
as follows:

  The following dates are based on the billing date rather than the calendar
date because we bill after the fact. 

>From the 10th of the month to the 25th of the month our set up is:

Net due - 0,  Day due - 10,  Month End Cutoff - 25

>From the 26th of the month to the 9th of the following month our setup is:

Net due - 30,  Day due - 10,  Month End Cutoff - 25

Hope this helps,
Lois White





-----Original Message-----
From: mapics-l-bounces@xxxxxxxxxxxx [mailto:mapics-l-bounces@xxxxxxxxxxxx]
On Behalf Of Marc.Rohde@xxxxxxxxxxxxxxxxx
Sent: Monday, November 17, 2003 5:01 PM
To: mapics-l@xxxxxxxxxxxx
Subject: Prox Terms

I am having problems getting Prox terms entered into Mapics to provide 
accurate due dates.  I am trying to enter "2% 10th Prox" which means that 
the invoice will be due on the 10th of the next month until the cut off of 
the month, which is the 25th.

This means if I invoice on 11/11/2003 the payment is due 12/10/2003.
If I invoice 11/26/2003 (after the 25th cut-off) the payment would be due 
1/10/2004
and invoices up to 12/25/2003 should be due 1/10/2004

I have spoken with Mapics and went round-and-round on this so I am 
throwing this issue out to the list for help.

At this point I have the terms set to:

Day Due:  10
Month End Cutoff: 25
Net Due: 25

I have "messed with" the net due to make the calculation work but cannot 
get this thing to calculate properly.

Your help is appreciated,
Marc Rohde
IT Manager
Pentair Water Treatment\Plymouth Products, Inc.
Work: 920-451-9421
Cell: 920-698-2008
Fax: 920-803-3540
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