Payment Rules

Module Guide: Payment Rules

Module Location

Settings > Accounting Settings > Payment Rules

Module Purpose

The Payment Rules module serves as a master data hub for creating and managing all types of payment terms used by the company. These rules (such as "30 Days," "60 Days," or "100% LC at Sight") define the credit period given to customers or received from suppliers and form the basis for automatically calculating due dates throughout the system.​

1. Main View (List of Payment Rules)

The main page displays all payment terms that have been defined in the system, providing a complete overview of the available options.

View Explanation

• Filter: Allows searching for specific rules by Payment Rule Code or Description.

• Payment Rules Table:

  • Payment Rule Code: A unique numeric code for each rule.

  • Payment Rule Description: An easy-to-read explanation of the term (e.g., 30 Days, 60 Days).

  • Stage: The number of days or duration of the payment term.

  • Type: The calculation method (e.g., daily for daily calculation).

  • CurrentlyUsed: Indicates whether the rule is actively being used in master data or transactions.

• Action Buttons:

  • New: Opens the form to create a new payment rule.

  • Delete: Deletes a selected payment rule (if it is not currently in use).

2. New Page (Add Payment Rule)

This simple form is used to define the details of a new payment term.

View Explanation

• Payment Rule Code: A field to enter the unique code.

• Payment Rule Description: An area to write a clear name or description for the term.

• Stage: A field to enter the duration (e.g., 30) and select its unit (e.g., Days, Months).

• Action Buttons: Save to store the new rule and Cancel to abort.

3. Steps to Create a New Payment Rule

• From the main page, click the New button.

• Enter a unique Payment Rule Code.

• Write a clear Description (e.g., "Net 90 Days" or "Cash on Delivery").

• Define the duration by filling in the number in the Stage field and selecting its unit.

• Click Save.

4. Integrated Workflow & Business Process

• Standardization of Terms: The rules created here will appear as dropdown options when users create or modify Customer and Supplier master data.​

• Due Date Automation: When a payment rule is selected for a customer (e.g., "Net 30 Days"), every time a sales invoice is created for that customer, the system will automatically calculate its due date by adding 30 days to the invoice date.​

• Cash Flow Management: With accurately and consistently calculated due dates, this module provides a crucial foundation for accounts receivable (AR) aging and accounts payable (AP) aging reports, which are vital tools for cash flow management.

5. Tips & Important Notes

• Use clear and industry-standard descriptions (like "Net 30", "EOM" - End of Month) to make them easily understandable for all users.

• Although default rules are set in the Conditions module, this Payment Rules module provides a comprehensive list that can be chosen to offer flexibility for each customer or supplier.

• Deleting a rule with a CurrentlyUsed: YES status will likely be disallowed by the system to maintain historical data integrity.

• Managing this module is part of the basic financial setup and is usually handled by the accounting or credit control team.