Large companies to report payment times
|Enabled for||Public preview||General availability|
|Users, automatically||Sep 1, 2023||Oct 2, 2023|
In countries where it's required, companies can report payment times as defined by local authorities.
Each year, Swedish companies with 250 and more employees must report to the Swedish Companies Registration Office what payment times they have for purchases from companies that are smaller than themselves. Similar acts exist in the United Kingdom, Australia, and New Zealand, so this app is a global feature for this kind of reporting.
This new feature sorts vendors based on size or payment terms, and provides reporting for the vendors for the following as required by local authorities:
- The average agreed payment period.
- The average actual payment term.
- The proportion of invoices paid after the end of the agreed payment period.
You can select the period for which you want to run a calculation and to find details based on a grouping you choose. For each of these groupings, you can find sourced entries.
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