1. What is Net 30?

Net 30 is a payment term indicating that payment is due 30 days after the invoice date. It's commonly used in business-to-business transactions to provide a short credit period.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Current Date — Today's date or any reference date
• Invoice Date — The date when the invoice was issued

Explanation: The calculator subtracts the invoice date from the current date to determine how many days have passed, then subtracts this from 30 to show remaining days.

3. Importance of Tracking Payment Terms

Details: Tracking payment terms helps businesses manage cash flow, avoid late payments, and maintain good relationships with vendors. It's essential for accounts receivable management.

4. Using the Calculator

Tips: Enter the invoice date and current date (defaults to today). The calculator will show how many days are left until payment is due or if payment is overdue.

5. Frequently Asked Questions (FAQ)

Q1: What if my terms are Net 15 or Net 60?
A: You can mentally adjust the result (e.g., for Net 15, subtract 15 from days passed instead of 30).

Q2: Do weekends and holidays count?
A: Typically yes, unless specified otherwise in your contract. Some businesses use business days only.

Q3: What happens if payment is late?
A: Late payments may incur penalties or interest, depending on your agreement with the vendor.

Q4: Can I use this for due date tracking?
A: Yes, this can be adapted for any due date calculation based on a fixed period from a start date.

Q5: How accurate is this calculator?
A: It provides exact day count between two dates. For business-day calculations, additional logic would be needed.