LN Cloud Record to Report: Business Partner EOM Payment Terms

Miral Patel

Has anyone being successful in setting up a supplier business partner for End of Month (EOM) payments? From what I have seen LN may not support EOM, and we would like to setup them for Net10EOM.

Any suggestions or where and how to do this would greatly be appreciated!

Eric Edder

IT person here, not AP, but I helped our AP staff try something similar back when we were using Baan IVc4.

Create a Payment Term code that falls outside of your normal code range (Z01) and then configure that payment method for Immediate Payment (i.e. 0 Day Payment Period). Then on the 10th of each month, you would use the Select Invoices for Payment session using only that Payment Term and for invoices with a due date 'blank' to the prior month's end date?

In this configuration an invoice dated January 15th would have a calculated due date of January 15th. On February 10th, you would select payments only for this payment term for the due date 'blank' to January 31st.

Creating the Payment Term code outside your 'normal' range allows your AP group to still select All other payment terms using different selection criteria to take advantage of discounts and such.

I also believe that we used the Save Defaults feature on the Select Invoices for Payments to that the defaults were 'blank' to YZZ for payment methods so that it automatically excluded the Z01 invoices and the users would have to specifically run a separate selection to get them into the payment batch.

You'd have to test to be sure, but I think this may be an option.