Discount, Due, and Pay Dates

 Three dates apply to open items in terms of payment processing:

·     Discount Date:  The date the open item must be paid on or before if the discount is to be taken.

·     Due Date:  The date by which full payment is due.

·     Pay Date:  The date used by payment selection to determine whether to pay the open item.

These dates may be changed at any time, but the following rules always apply:

·     The due date must be on or after the discount date.

·     If no dates are supplied by the user, they are calculated based on the credit terms code assigned to the vendor and defined on Reference File category 223/247.