Discount Due Date

This is the date the payment must be made in order to take advantage of a discount offered by the vendor. If the vendor's payment terms are 2% 10 net 30, we have to make the payment within 10 days of the invoice date in order to reduce our payment by the 2% discount amount. If we miss that date we have to pay the full amount of the invoice by 30 days from the invoice date. It is critical that all invoices offering payment discounts are entered into the payment system immediately upon receipt.  All approvals must be timely in order to allow for processing before the discount due date in order to take advantage of the payment discount.