Using Revision/Pay Days

The Revision/Pay tab on the Customers form allows you to define revision and pay days for invoice validation and payments. The revision day determines the day when the invoice is sent to the customers. The pay day determines the day payment can be collected (after the invoice due date has been reached).

Setting Up Revision/Pay Days

  1. Open the Customers form and select the Revision/Pay tab.
  2. Select Use Revision/Pay Days, and then select or enter your revision/pay days and times.
  3. Create an invoice for your customer. On the first revision day after the invoice date, the invoice is sent to your customer.
  4. If your customer rejects the invoice, corrections/adjustments are made and a new invoice is sent.
  5. After your customer approves the invoice, the system recalculates the due date to be the next pay day after the initial due date.

NOTE: To determine which invoices are approved or rejected, use the Accounts Receivable Aging Report.

EXAMPLE: An invoice is created with an invoice date of 3/18/03 (Tuesday), and the customer's revision day is Monday. The due date will be calculated based on 3/24/03 (the first revision day after the invoice date) instead of 3/18/03. The terms code is Net30days, so the initial due date is Tuesday, 4/22/03. However, the customer's pay day is Thursday, so after the customer has approved the invoice, the due date is changed to Thursday 4/24/03.

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