Fiscal Operations Manual
Section 400: Expenditures
Effective: 01/01/2003
Revised: 08/26/2010

The Payment Due Date default on FAAINVE has been set to NET 30 Days. The Discount code shows "03"; this is Net 30. This discount code tells the Banner system to automatically calculate the Payment Due Date as 25 days after the vendor invoice date. DO NOT CHANGE this default unless the vendor requires their payment within a specific time period or there is a discount.