Accounting Ideas

Add Credit Term End Of Month + x Days, Not just End of following Month

You have added end of the following month credit terms, you also have x days credit terms. We also need a combination of the two, so End of Month + x Days. This would account for EOM + 30, EOM + 60, EOM +90 or any other combination of EOM + x Days.

Agree net monthly also needs an option for number of days from the end of the month, rather than just net monthly.

So okay

To change all the settings re EOM is relatively easy and I understand and note that any invoices in the pot will remain unaffected (makes sense).

However I feel that there are 2 issues still at large.

1. We have hundreds of customer/supplier A/c cards and the process of loading an individual A/c card then go into payment options etc to make the change to EOM - save change then have to reload for the next card etc for all accounts will take forever !!!! - Could you not give a global setting say in setup) that is a one time run (with a warning) to set this flag across all accounts - them we can manually update the odd few that do not apply.

2. Having done some of these manually already in the customer/supplier ledger cards the accounts daybook day book still show the old setting ie 30/45 days etc. So you have no idea what cards have been altered/updated. Making it almost impossible to find the other accounts to upate....

My preference would be for payment terms; creditors and debtors, is to be able to setup for Calendar Month and not days. All ageing on reports would then be by calendar month and easier to read/analyse. I have had this for 40 years of working and cannot see why this request cannot be done?

Susan Slater
Euraccess Ltd

Problem is, if I create an invoice today and put a deposit against it, I don���t know when the work will be done yet and so when the work is complete the due date on the invoice is incorrect as it can���t be changed with a receipt against it.

Regards

Nicola

EOM+60 and EOM+90 are definitely needed too. ��Please could you look at the debtors being by due date rather than 30 days from invoice date. This would make the debtors report usable.
On Thursday, 4 August 2022, 11:09:05 BST, Sage Business Cloud Accounting Ideas <5cec644bea907f80b94783dc-sageproducts@iad-prod1.mailer.aha.io> wrote:


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Hi Adrian

I tried following your directions, and I was lost at "Business settings" Is this only available in certain versions of Sage, or am I missing something? I am using Sage 50 Canadian version. I have been using Sage / Simply Accounting for almost 20 years. For the most part, I would say I am very familiar with the program. I can see where I can change the aging periods. I do not see any of the options you have noted.

S Truax

Hello Adrian

Thanks for your email���..this setting is LONG overdue���.but sadly you have only done it for 30 days from Month End���.it needs to be options of 30, 60 or even 90 days from Month end, as many Blue Chip companies insist on longer terms - If you want to be able to do business with them; even though they���re your customers, also lots of Suppliers are 60 or 90 days from month end. Please amend this urgently to complete the job.

And, when we send out Customer/Supplier statements, they ALSO need to be aligned with the set payment/settlement terms.

Many thanks
Regards
Miriam E Smith

Hello,

Thank you to everyone who has provided additional feedback, it's really appreciated. Hopefully the below will help with a few of the questions:

1. To switch between a fixed number of days (30 days after invoice date, for example) to Net Monthly, go to Settings > Business Settings > Record and Transaction Settings. You'll see at the top the option to switch default payment terms. This will change the default for any new invoices. See attached screenshot for the setting you will be looking for. Hopefully this helps!

   1. Note: Changing this default will not change the payment terms you have already setup at each Contact (Customer/Supplier), but it will set the default for any new contacts you create.

   
   

2. To change the payment terms on a Contact, to go Contacts at the top menu, then select a contact record. You'll see a tab for 'Payment Details' and in there is an option for Credit Terms. You can set this for existing Contacts or use it to change the default when creating new Contacts.

3. If your payment terms are 'due on receipt', you can select 'immediately' from the options.

If you are noticing that the date is changing after entering a contact or changing the invoice date, I would recommend checking the default set on the Contact mentioned in point 2 above. Please let me know if this is not working as expected.

We are monitoring feedback on this closely to gauge the interested for extending this further to offer net +60 or net+90 (plus others), and are tracking this on this idea: https://sagebusinesscloudaccounting.ideas.aha.io/ideas/S1-I-1601

I have passed on the feedback relating to the grey text colour on the PDF - we'll take a look at this. Thank you!

I would beg to differ that this idea should be 'Great idea already delivered', since so many of are requesting it is extended to include EOM+60 (which we really need) and EOM+90 for some.

Changed setting before doing a run of service invoices. It appeared to be working until I change the invoice date to when the service occurred. The due date would jump from net monthly to 30 days. Any idea why.

I thought maybe I needed to alter customer settings but that only has the 30 days option.

Pasted from my previous comment, Not sure if this is now the correct place for it?

ALL MY SUPPLIERS ACCOUNTS ARE BY CALENDER MONTH, AND HAVE BEEN FOR THE LAST 45 YEARS OF TRADING.

I have been trying to get sage one to change this for over five years now.

Even my old TAS books had the facility to change from 30 days or monthly.

so basically - This is working from me (just the odd end of month invoice not quick in proper column on aged debtor list) but prepared to accept these are historical debt and new ones added should be in place... so it's good to finally have this feature... Would would not be good is to have in the debt list print out is option to remove and future payments.. Also why does the debtors/creditors list print out go to pdf in such a faint grey colour? it makes it also must unreadbable when you printed this list out!

It���s not really working.

Due upon receipt would be awesome as well!!

Hi Adrian. I tried to follow your direction, but I'm lost after "Settings". After that I am not able to find "Business Settings". I did the update yesterday, so my program is up to date.

Like the person below, we would also be very appreciative of a Net 60 option.

Hi Adrian, this is great to have. My initial feedback is that I don't seem able to update an existing account from its current terms – do I need to create a new account for each customer? Also, while the addition of this feature is really welcome, it seems like it is only available for Net 30. We offer Net 60 and I'm sure plenty of businesses will have Net 90 arrangements – is the feature 'delivered' now or is it likely to be extended in future?

Thanks

We are really pleased to confirm this option is now available in Sage Accounting. You can find it by visiting Settings > Business Settings and then selecting 'Record and Transaction Settings'. At the top of the page, in the Customers Section, you will see a new option in 'Invoice Due' for End of Next Month (Net Monthly). We would love your feedback on this, so please comment here, or leave feedback directly to the team by selecting 'Give Feedback' in the option under your profile link.

Thank you.

Now we are in March, and this still isn't an option. What is the hold up?