What is Proxima Payment Terms?

Answers were Sorted based on User's Feedback

What is Proxima Payment Terms?..

Answer / manoj

In proxima payment term to determine the due date of the
installment, it requires 3 details :
Cut Off day, Day of Month and
Months ahead.

Ex: Cut off day=20, Day of month=25 and Months a head=1
transaction raised on 15-Jun-2007

Here cut of day is 20th, the payment cycle is 20th of last
month to 19th of this month. So for this example payment
cycle is 20-may to 19-june, 2007.So the transaction date
falls in this current billing cycle, and months ahead is 1,
due date will be taken as 25th july.If months ahead is 0,
then due date will be 25th of june.

Is This Answer Correct ?    15 Yes 0 No

What is Proxima Payment Terms?..

Answer / cnu

Please let you know the meaning of "MONTHS AHEAD=0" means it
will talk about to current month, and "MONTHS AHEAD=1" means
it will talk about to next month ok,

if transaction date is = 20 of feb,
cut off day is = 25
months ahead is = 0 or 1

it means it will pick up all transactions which are
entered from jan 20th to feb 19 and it post on 25 of current
month. if its 1 then it will post to next month simple....

Is This Answer Correct ?    4 Yes 0 No

What is Proxima Payment Terms?..

Answer / get me a job

Ur BSNL,AIRTEL or CITI bank bills are egs. Generated on a
particular day called cut-off date. eg: 25th of every month.

Is This Answer Correct ?    6 Yes 3 No

What is Proxima Payment Terms?..

Answer / dheeraj

A proxima payment term has Cut Off day, Day of Month and
Months ahead.

Ex: Cut off day=15, Day of month=20 and Months a head=1

When a transaction is raised on 10-Jun-2007. The transaction
date is before the cutoff day. So this transaction will be
considered for the current billing cycle and the due date of
the transaction will be taken at 20-jun-2007 since months
ahead is 1.

Is This Answer Correct ?    5 Yes 7 No

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