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.