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

What is Proxima Payment Terms?

Question Posted / shravan kumar

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Answer Posted / shravan kumar

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.

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