It’s All Good: New Payment Terms Options in Microsoft Dynamics GP 2015

Written By: Linda Brock

from May 4, 2015

Often a small enhancement to an existing feature reaps great benefit. That is the case with payment terms functionality for Microsoft Dynamics GP 2015.

Prior versions of Microsoft Dynamics GP provided these date options on the Payment Terms Setup Window: Net Days, Date, EOM, None, or Next Month. With Microsoft Dynamics GP 2015, these additional options are now available: Months, Month/Day, and Annual.

Microsoft Dynamics GP 2015 also includes a feature that provides additional choices for due date and discount date calculations. You now have the option to calculate the due date from the transaction date or from the discount date. For convenience, a calculate button has been added to the Payment Terms Setup Window to immediately check the setup and result of the chosen options. If you find an incorrect calculation, you can make changes by keeping the Payment Terms Example Window open while updating the settings in the Payment Terms Setup Window.

When upgrading to Microsoft Dynamics GP 2015 from a prior version, be sure to evaluate the impact on existing terms codes in case changes are needed to correspond to this new payment terms functionality.