You are creating payment terms. A company processes standard vendor payments on the seventh day of the next month. You need to set up payment terms for the vendor. Which date formula should you use?

The correct answer is D. CM+7D. The date formula CM+7D means "the end of the current month plus 7 days." This is the correct formula to use for a company that processes standard vendor payments on the seventh day of

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Question

You are creating payment terms. A company processes standard vendor payments on the seventh day of the next month. You need to set up payment terms for the vendor. Which date formula should you use?

Options

A37D
B1M+7D
C1M+6D
DCM+7D

How the community answered

(59 responses)

A
3% (2)
B
7% (4)
C
12% (7)
D
78% (46)

Explanation

The date formula CM+7D means "the end of the current month plus 7 days." This is the correct formula to use for a company that processes standard vendor payments on the seventh day of

Topics

#payment terms#date formula#CM formula#vendor payments

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