Fixed due date calendars

In a fixed due date calendar, the due date is fixed, and the Pismo platform uses it to calculate the cycle closing date. When you create a program using Create program or Create program (async), you set the due_dates field to an array of due date objects. When you create an account in the program, you assign one of these due date objects to it.

Each due date object contains a day field, which represents the day of the month for the due date. This is the nominal date by which the cardholder must pay the minimum amount due (MAD) to avoid accruing late charges. In some cases, a later date, called the real due date is used in place of the due date. For information about how the real due date is determined, refer to Defining an additional grace period and Calculating the real due date.

The day of the month that a cycle ends is called the cycle closing date. This is specified using the Number of days before due date to set the closing date of the statement program parameter, which you can set in the Pismo Control Center. The value of this parameter is subtracted from the due date to determine the cycle closing date. In other words,

day - Number of days before due date to set the closing date of the statement = cycle closing date

Note that this is an account-level operation, although it uses a program-level parameter—meaning that, by default, the same parameter is used with all the accounts in the program. You can also customize the grace period for accounts that use a particular due date object.

For more information, refer to Calendar management strategies.