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lskick4
August 18, 2022
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Payment terms not calculating due date correctly

  • August 18, 2022
  • 2 replies
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I have one customer that has 45 day payment terms and the due date in QB is the same date as the invoice date.  This makes is a little difficult to assess finance charges if necessary.   I have attached a screenshot.  This is the only customer I have that has 45 day payment terms.  All other customers that have 30 or 60, the due date is correct.  Any idea what could be the fix here?  Thanks!

 

 

 

Best answer by Rainflurry

@lskick4 

 

I assumed you've checked this but make sure your Net 45 terms are set to 'Net due in 45 days' and not 0 days.  0 days is the default when new terms are set up, so it's possible this was overlooked.  Go to Lists > Customer & Vendor Profile Lists > Terms List > Net 45 to confirm.

2 replies

AlcaeusF
AlcaeusF
August 18, 2022

Hi @lskick4,

 

Your detailed response helped us decide what troubleshooting steps to perform for your issue. I can see it's only happening to a specific payment term in QuickBooks Desktop.

 

I can help you fix the problem to get you back on track in creating accurate invoices for the customer. Before we start the troubleshooting, let's update your QuickBooks to the latest release version.

 

It will help ensure the software is up-to-date and have the latest features and fixes. Here's how:

 

  1. Click the Help tab in the upper-right corner.
  2. Select Update QuickBooks Desktop.
  3. Go to the Update Now tab.
  4. Put a checkmark on the box beside Reset Update.
  5. Hit Get Updates.
  6. Close and re-open QuickBooks. 

 

Once you've updated QuickBooks successfully, proceed with performing the basic troubleshooting. Since this is happening to a specific term only, I recommend you recreate the template.

 

Please follow these steps:

 

  1. Click the Lists tab at the top menu bar.
  2. Hover your cursor to Customer & Vendor Profile Lists.
  3. Select Terms.
  4. Delete the term.
  5. From the Terms dropdown,  select New.
  6. Add a name for the payment term.
  7. Enter the necessary information.
  8. Hit OK.

 

After following the steps, your invoice should show the correct due date moving forward. You can review the template and ensure the details are correct.

 

Also, if you want to personalize the appearance of your invoices, you can make changes to your form templates. For more details about the process, check out this link: Use and customize form templates.

 

If you continue to experience unusual results with the payment term, let me know. I'm always available to help out here in the Community space. 

    L
    lskick4Author
    August 19, 2022

    Thank you for your help; I did do the update and re-start and I received a message, see attached.  I went back to where I did the updates and it says I have 3 installs pending.  I just don't want to proceed as I don't want to mess anything up.  Am I to repeat the "get updates and do a restart?  Thanks!

     

     

    Rainflurry
    RainflurryAnswer
    August 19, 2022

    @lskick4 

     

    I assumed you've checked this but make sure your Net 45 terms are set to 'Net due in 45 days' and not 0 days.  0 days is the default when new terms are set up, so it's possible this was overlooked.  Go to Lists > Customer & Vendor Profile Lists > Terms List > Net 45 to confirm.

      L
      lskick4Author
      August 19, 2022

      Hi there, actually it was set at zero!  I didn't know to even look at this, so thank you!!  I have now changed it to 45 so I will see if it works when I enter the next invoice.  It didn't change the current invoices, but assumed it wouldn't unless it will if I do a re-start.   Thanks again!  

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