What Are We Trying to Accomplish?
Changes Coming Soon - Keep reading for sneak peak.
Determining the start for payment terms can differ from company to company based on the accounting rules being used within your company. In some cases, it may make sense from an accounting perspective to set the invoice date that is used to calculate when payment terms start to the date that the invoice was matched to the purchase order versus the date that is pulled from the invoice itself. In SourceDay we call this the matched date.
- The matched date is set when the invoice data aligns between the purchase order and receipt which is also when the line is typically moved under your Matched tab. Note invoices that are still awaiting delivery will match and be held on the Awaiting Receipt Tab.
- The invoice date is captured from the invoice PDF that is sent in from the supplier.
If this functionality is not turned on (default setting), the invoice date as listed on the the invoice PDF is sent to the ERP.
If this functionality is turned on, the matched date and invoice date will be compared to determine the best payment scenario, and that date will be used for payment terms. This basic logic will be applied:
- If the invoice date field is greater than the matched date field - invoice date will be sent to the ERP as the invoice date
- If the invoice date field is less than the matched date field - matched date will be sent to the ERP as the invoice date
- If the matched date field is null - invoice date will be sent to the ERP as the invoice date
Where Can I See It?
You are able to see the column for matched date under the following views:
- Awaiting Receipt
- Voucher Exception
- Failed Voucher
How Do I Enable this Setting?
To turn on this setting:
1) Click on your account name on the top right side of the page
2) Choose "Account Settings"
3) Scroll down on the page until you see the "Advanced Settings" section.
4) Under "Advanced Settings" click on the box next to "Update Invoice Date to Matched Date" so that the box is checked
5) Click "Save"
Changes Coming Soon
Advanced Settings will be moving to the IA Admin Only.
Admins can find Advanced Settings by clicking on their login name and selecting Company Settings.