Dynamics 365 Business Central: Country and regional - Comply with Australian Payment Times Reporting bill

<p>Every six months, Australian companies with more than AUD100 million in annual turnover must report how and when they pay small business suppliers (suppliers with annual turnover under AUD10 million).</p> <p>This feature organizes vendors by size or payment terms and creates reports that meet local authority requirements.</p> <ul> <li>The average agreed payment period.</li> <li>The average actual payment term.</li> <li>The proportion of invoices paid after the agreed payment period.</li> </ul> <p>Select the period for the calculation and choose a grouping for the details. For each grouping, you can view the sourced entries.</p> <p>Use this feature by opening the <strong>Payment Practices</strong> page and creating a new payment practice. To use different types of reporting for vendors, customers, or both, use the <strong>Header Type</strong> option. For payment time details and statistics, set up all parameters and select <strong>Generate</strong>.</p> <p>The report is in the required format. It categorizes details into ranges of time based on the timing after the invoice date:</p> <ul> <li>Less than 21 days</li> <li>21-30 days</li> <li>31-60 days</li> <li>61-90 days</li> <li>91-120 days</li> <li>More than 120 days</li> </ul> <p>Business Value:</p> <p>The payment times reporting feature in the Australian localization helps large businesses with annual turnovers exceeding $100 million comply with Australian regulations. These regulations require businesses to report how and when they pay their small business suppliers.</p> <p>Enabled for:</p> <p>Enabled for end users automatically</p>