Select Payable Checks using Dates
Computer Checks – Select Payables Checks
Select Due Date and Discount Date Cut-offs Overview
The Due Date Cutoff and Discount Date Cutoff are used to determine what invoices to include in the check run.
If Due Date is selected in the Due Date Cutoff field, all the vouchers for the selected vendors that are due on or before the date specified are included in the batch. To not use a cut-off date, select None. If None is selected, all the vouchers within the vendor and document range selected are included.
If a due date cut-off is selected, the Discount Date Cutoff field becomes available. If Discount Date is selected as the discount cut-off date, all vouchers for the selected vendors with a discount date on or before the date specified are included in the batch. If All is selected, all vouchers with discounts available are included in the batch.
The Apply Date and Non-Qualifying Discounts
Apply Date – of the invoices selected using the Due and Discount Date Cutoff, the Apply Date determines what discounts to apply. All invoices selected that have valid discounts on this date will be paid at the discount amount.
Take Non-Qualifying Discounts – this selection override the Apply Date and takes all discounts on the invoices selected.
Sample – Select Payables Checks Using Various Dates and Options
The following sample invoice was used to demonstrate the resulting check amount using various date selections in the Select Payable Check window.
|Terms||2% 10 Net 30|
|Invoice Date||Jan 1|
|Terms Discount Date||Jan 11|
|Due Date||Jan 31|
Results using different date combinations:
Due Date Cutoff
Discount Date Cutoff
Take Non-Qualifying Discounts
Results Check Amount
|Jan 11||None||No||Jan 12||$0.00|
|Jan 11||None||No||Jan 11||$0.00|
|Jan 31||None||No||Jan 11||$980.00|
|Jan 31||None||No||Jan 12||$1,000.00|
|Jan 11||Jan 11||No||Jan 11||$980.00|
|Jan 11||Jan 11||No||Jan 12||$1,000.00|
|Jan 11||Jan 12||No||Jan 11||$980.00|
|Jan 11||Jan 12||No||Jan 12||$1,000.00|
Use Take Non-Qualifying Discounts on all scenarios above will override the discount amount used as follows:
|Jan 31||None||Yes||Jan 12||$980.00|
|Jan 11||Jan 11||Yes||Jan 12||$980.00|
|Jan 11||Jan 12||Yes||Jan 12||$980.00|