I have to set up vendor for work center group but I dont know the meaning of Term of Payment. In setup of Term of Payment form, I have to declare in the Payment method check box. Can you explain the meaning of the every one in the list. For example, when i choose Curr.mth. The meaning is I have to pay at the end of every month? What happen If I choose Net and specify payment schedule? And what does meaning of payment day?
Terms of Payment - this will calcualte the due date, you define the calculation and you are looking at suggested data. The current month would suggest you pay it at the end of the month, this depends upon the payment proposal running however.
Payment Schedules are used to pay invoices in installments.
Payment Day - The payment day is used in the calculation of the due date. The due date is always rounded up to the nearest specified date. The payment day can be specified for a specific day of the week or month.
In help menu of AX, the program give out an example that is showed below and that is refer to Term of Payment form
You set up a purchase budget for a vendor group and budget a purchase of 10,000 for June 15. You then specify current month + 30 days for the terms of payment. The cash flow forecast then shows that payment for the budgeted purchase of 10,000 is due on July 30.
How the program calculate that result. If I calculate, my result is July 15?
Are you posting it from the sales order and have checked the schedule is defined, I think from the invoice (?) tab there is a payment schedule option and you can see and amend it in there. There is also a configuration key from memory. Never set it up myself however.
I was not saying I agreed, just how it looked like it was written.
This would be a product enhancement, and Microsoft have the connect tool for product suggestions (http://connect.microsoft.com/dynamicssuggestions), but in reality we don’t know if it is a bug, intended design or we are missing the functionality. Your alternatives are the official community, communities like this. I would log it as a support call, that is how problems are reported, there is also a partner portal, but it is the same but slower.
I will not term it as bug. Bug is something where functionality is not working as per specification. If required we can enhance the product by calling payment schedule on journal line. All payment schedule do is the transaction reorganizing process based on due dates as per schedule.
Your point is indeed valid, because we are ultimately invoicing vendor and there can be business scenario where payment schedule will be required.