This field in the Maintain Terms (MTM) window is the date you cut off charge business for accounts with this terms code.
This field is required. This field is alphanumeric. You can enter up to two numbers or EM (end of month).
For example: You enter 25. This means you close on the 25th of each month. Any transactions after the 25th are part of next month's charge business.
If you enter EM, this means you close on the last day of the month (the actual day varies from month to month).