Relevant to: Buyers
Navigation Tree: Transactions > Invoices
It's important to distinguish between delivery payment due date and invoice due date.
For information regarding the delivery payment due date, refer here.
Invoice due date
Upon clicking 'Generate Invoice', all deliveries allocated to a specific contract, that do not yet have an invoice and based on the delivery due date being the same, will be grouped and added to one invoice. Therefore, different invoices will be generated for groups of deliveries that have the same delivery payment due dates.
Due to the time delays incurred with export deliveries, and to align with industry practices, the invoice due date calculation differs depending on whether the contract price basis is of export or domestic type. For details on contract price bases, and the distinction between export and domestic price bases, refer Price Basis definitions.
Export price basis contracts:
The invoice due date is based on the contract payment terms, starting from the invoice creation date. For example, if an invoice is generated on Wednesday 31st Jan and the contract has 12 days EOW payment terms, then the invoices due date should be the Friday 16th Feb, regardless of when the delivery was made and what the delivery payment terms on the delivery are.
Domestic price basis contracts:
In the event that the deliveries due dates is in the past:
- The invoice due date will be equal to the date the invoice was generated.
- For example, if the two separate deliveries onto a single contract have delivery payment due dates of 3rd Jan and a user generates an invoice for that contract on 20th Jan, the invoice due date on that invoice will be 20th Jan.
In the event that the deliveries due date is not in the past:
- The invoice due date will be equal to the deliveries payment due date.
- For example, if an invoice is generated on Wed 31st Jan and the delivery due date of the deliveries is the 5th Feb, then the invoice due date will be the 5th Feb.
Other useful links
For information on how to view and edit the payment due date of a delivery, refer here.
For information on the invoice date (not the invoice due date), refer here.