Comply with Australian Payment Times Reporting bill
Important
Some of the functionality described in this release plan has not been released. Delivery timelines may change and projected functionality may not be released (see Microsoft policy). Learn more: What's new and planned
| Enabled for | Public preview | General availability |
|---|---|---|
| Users, automatically | - | May 2025 |
Business value
The payment times reporting feature has been added to the Australian localization to ensure that large businesses with annual turnovers exceeding $100 million comply with Australian regulations, which require them to report information on how and when they pay their small business suppliers.
Feature details
Every six months (biannual), Australian companies with more than $100 million in annual turnover are required to report information on how and when they pay their small business suppliers (annual turnover of less than $10 million).
This feature organizes vendors by size or payment terms and generates reports for them based on the criteria 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 find details based on a grouping you choose. For each of these groupings, you can find sourced entries.
You can use this feature by opening the Payment Practices page and creating a new payment practice. You can also use different types of reporting for vendors, customers, or both, by using the Header Type option. For payment time details and statistics, set up all parameters and choose the Generate action.
The report will be in the required format, and it will categorize details into ranges of time (based on the timing after the invoice was issued):
- less than 21 days
- 21-30 days
- 31-60 days
- 61-90 days
- 91-120 days
- more than 120 days of issue
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