Purchase Order - Expected Bill date

Modified on Tue, 12 May at 10:11 AM

Managing cash flow is one of the most important parts of running a successful business. While Purchase Orders (POs) help control committed spending, businesses also need visibility on when those costs are likely to become payable.

The Expected Bill Date is an estimated date entered against a Purchase Order that predicts when a supplier bill is likely to be received or fall due.

Rather than waiting for the supplier bill to arrive, the Expected Bill Date provides the business with an early indication of upcoming expenses, allowing them to be included in forecasting and cash flow planning.

It’s important to understand the difference between expected and actual:

Field	Purpose
Expected Bill Date	Forecast of when the bill is likely to arrive or become payable
Actual Bill Date	The real invoice date is entered when the supplier bill is received

The Expected Bill Date is predictive, while the Actual Bill Date becomes part of the official accounting record.

To generate this field in Reporting, you need to add a forward date on any purchase orders you generate in Rave. This field appears in both project-level purchase orders and branch-level ones and sits at the top of the page under the Expected Due Date drop-down.

To learn about the reporting feature that comes with this model. Click here for the help article.