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What do these fields mean? To see a full definitions list please visit: Bill Group Configuration
The fields that we have to pay attention to within the context of this article are defined below:
Invoice Date Process Type - defines the way in which you require the system to assign the invoicedate (As Is, Invoice Closed Date, User Bill Day). See the Bill Group Configuration article for details)
Invoice Due Date Type - this defines the method with which EngageIP determines how to set the due date on an invoice. If 'Invoice Closed Date' is selected, the closed date of the invoice (the day on which it's closed) will be used to calculate the due date along with the terms specified in credit ratings for that customer account. If 'Invoice Date' is selected, EngageIP will calculate the due date from the invoicedate. As an example of the 'Invoice Date' method: if today is June 24th, 2011, and you set the invoicedate manually to January 15th, 2011, and the credit rating terms are +30, the due date using 'InvoiceDate' configuration will be February 14, 2011 (Jan 15 + 30 days). If the first method is used, the due date would be based on the example, July 24th (Close date of June 24th plus 30 days)
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For more information on see the 'Set Due Date on Open Invoice' description on the EngageIP Configuration Page Overview article