This is one of those items that shows Xero as a 'sole trader' to very small company directed system and if Xero wants to target bigger companies (I am not convinced they actually do) then this needs to happen ASAP.I had a customer complain very loudly that they had agreed 90 day payment terms for a large project but the invoice went out at 14 days - they are one of 200 customers.
This is fine if the invoice is dated for today but if you are entering an invoice that is dated at the beginning of the month, then the calculated date is incorrect and so it has to be manually input.
Also if you are lucky to have an account with a supplier that allows 60 days following the month end, it's very hard to work this out accurately.
I don't see it as the best way possible but it works okay while this feature is not available. On this thread, there is no update or useful comment I can make on top of what I've already said - I know it's frustrating that you expect automated trading terms and they're not there.
I first copied my currently working invoice template and then created three additional ones from within "Invoice Branding' which therefore replicate the look I require. We know this and it's on the huge To Do list and we will get to it as soon as we can.
The issue has been highlighted over half a year ago and nothing has been done and considering how inconvenient the issue is it is unacceptable. @Garth Thanks for this suggestion in the meantime - it's a good [email protected] Yes I look at these comments all the time, every day.
Temporary Solution to Automating Trading Terms This is what I have done to get around the issue of automating trading terms. Terms of Payment: Prepaid I then assign the respective template to each entity from within the contacts. And pass them back to the appropriate people at Xero to make sure you're heard.
EG7 D (days) for 7 Day trading terms1 M (Month) for 1 month terms Note there have been discussions re some month end terms plus a number of days but again only variables that can fall into the above format.
The terms are then applied after the contact has been added to the invoice and the invoice date has been entered, at that point there you have all the data you need to then calculate the due date.
The contacts could be enhanced to hold trading term variables (qty and period) such as 7 days (7 x days), 30 days, 1 month (1 x calendar month) etc then this could be applied when adding a debtor or creditor invoices to automatically calculate due date.---Two requests have emerged on this thread - please comment or vote on this thread for automated payment terms and please comment or vote for a way the date fields should calculate due dates on this related thread: Use the tool in the due date box to calculate from the invoice date, not the current date Me too.
I have a client with multiple creditors using variations of "# of days after End of Month".
As well as payment terms we will likely look at perhaps more keystrokes in date fields as a way of telling that field what the [n] applies to, if not itself - just have to figure out how to keep it intuitive and simple. --For interest, what do you guys think is reasonable to type into a date field in Xero to tell it what to calculate [n] from, given there are various dates fields across different types of transactions in Xero?