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jhitt25
Level 1
posted
a week ago
last updated ‎April 04, 2021 1:34 PM

Why is there no terms option for a cutoff date?

We have several vendors that have a cutoff date different than the end of the month.
Example:

Vendor Foo has a cutoff of the 25th of the month.  Any invoices before that date are due the 10th of the next month.  Invoices from the 26th to the end of the month will be delayed until the 10th of the following month.

The only option i have is 'due by the 10th, due next month if issued within X days of due date', but "X" would have to be 15 days for a 31 day month, 14 days for a 30 day month, and 12-13 days for February, depending on the year!

Can we get a hard cutoff date as an additional option instead of the '...if issued within X days of due date'?

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2 Comments
Maybelle_S
QuickBooks Team
QuickBooks Team
a week ago

Why is there no terms option for a cutoff date?

Good day, @jhitt25.

 

The option to add a variable data point (PERIOD{MM/YYYY}) to the custom field each month is unavailable. We need to manually enter them in the field after the recurring invoice is created.

 

On the other hand, I appreciate you for coming up with the workaround by going in and set the XX variable to the current month after each invoice. To learn more about personalizing your sales forms, check out this article: Customise invoices, quotes, and sales receipts in QuickBooks Online.

 

Visit these blogs for any upcoming QuickBooks updates and enhancements:

 I have a link here that provides you with articles about managing your customer transactions: Add and manage customers in QuickBooks Online. 

 

The Community will always have your back if you need anything else in. Assistance is just one post away. Take care always.

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jhitt25
Level 1
a week ago

Why is there no terms option for a cutoff date?

My question was regarding a vendor invoice to us, not an invoice we create for a customer.  This also isn't a recurring invoice.  We're already adjusting the due date when we enter the invoices, it would just be nice if there were an option to have it automatically set appropriately based on a very common scenario (a fixed cutoff date each month).

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