A tool designed to determine the payment deadline for an invoice, typically by adding payment terms, such as “Net 30” or “2/10 Net 30,” to the invoice date. For example, an invoice dated October 26th with “Net 30” terms would be due on November 25th.
Accurate payment deadline calculation is crucial for maintaining healthy cash flow, fostering positive client relationships, and minimizing late payment issues. Historically, this process was performed manually, increasing the risk of errors. Automated tools streamline this task, enhancing efficiency and accuracy while providing valuable support for businesses of all sizes. This automated approach reduces administrative burden and allows for timely payment reminders.
