Master Records > Pay Code > Set Up Pay Code

The Pay Code Maintenance function allows you to create and set up pay codes in AccountMate Enterprise. This section discusses the procedure on how to set up pay codes.

To set up the pay code record, perform the following steps:

1.Access the Pay Code Maintenance function from the Maintenance menu. Click the New button to create a new pay code record.

2.In the Pay Code field, enter a code that you want to assign to the new pay code. This field accepts alphanumeric characters. For your convenience, choose a code that is easy to remember and helps you identify the payment method. Once a valid code is entered in this field, the rest of the fields in this page is enabled.

3.In the Description and Short Description fields, enter a brief narrative description of the pay code to help you identify its pay type.

Note: AccountMate will not allow you to save the record if no value has been entered in the Description and Short Description fields.

4.In the Status field, click the List box button and select either Active or Inactive as the status for the pay code.

5.To set up the pay type for this pay code, click the List box button adjacent to the Type field; then, select any of the following options:

The pay type you define here should be compatible with the pay code and description you entered earlier in this function screen. For example, if you entered a code and description that indicated a type of credit card, you should choose the Credit Card option not Cash, Check or any of the other options.

oCash

Select this option for pay code records set up for cash transactions.

Note: If Cash pay type and the option Automatically Pay Invoice is set up for a pay code that is also used when creating or generating invoices, those invoices will not be available when you authorize payment using the Authorize Payment function.

oCheck

Select this option for pay codes applied to transactions where payments or collections are made in checks.

oDebit/Credit Card

Select this option for pay code records set up for transactions involving debit card or credit card payments.

Note: For Sales Order and Accounts Receivable modules, since you will use this information to claim the payments from credit card companies, you should set up credit card information in the Settings page of the Customer Maintenance function.

oC.O.D (Cash on Delivery)

Select this option for pay codes applied to transactions where payment will be made upon receipt of goods.

Note: If a C.O.D. pay type and the option Automatically Pay Invoice is selected for a pay code that is used when creating or generating invoices, those invoices will not be available when you authorize payment using the Authorize Payment function.

oTerms

Select this option for pay code records applied to transactions with early payment discount terms. Selecting this option will enable the Terms area in the function screen. This area allows you to set up the early payment discount percentage rate, the discount period, the net days and from what date the counting of discount days will start.

oACH

Select this option for pay code records to be applied to electronic payments. This option will only be activated if the Electronic Payment feature is activated in the vendor or customer record.

Note: You cannot change the pay type of a pay code from ACH to another type if there are un-deposited AR receipts with positive amounts that are assigned to that pay code.

oClickToPay

Select this option for pay code records to be used for ClickToPay payment transactions. This option is activated only when the ClickToPay feature is enabled in AR Module Setup.

Note: You cannot change the ClickToPay type setting when the pay code record is saved. When the ClickToPay type option is selected, the Use in Purchase Order/Accounts Payable is unmarked and disabled; the Invoice is Subject to Finance Charges checkbox is also unmarked and disabled if the finance charge was set to be applied on past due invoice balances. All the other fields and checkboxes are also unmarked and disabled.

oOther

Select this option for pay code records with a different mode of payment from the pay types discussed above. You can use this pay type for transactions involving trade-ins or account swapping.

6.To set up other important settings for this pay code, mark the appropriate setting:

oUse in Purchase Order/Accounts Payable

Mark this checkbox to make this pay code available when creating transactions in the Purchase Order module and/or Accounts Payable module. This checkbox is unmarked and disabled when you select the ACH option in the Type section.

oUse in Sales Order/Accounts Receivable

Mark this checkbox to make this pay code available when creating transactions in the Sales Order module and/or Account Receivable module.

7.In the When Assigned to Customer Invoices area, mark the appropriate setting:

oAutomatically Pay Invoice

Mark this checkbox to automatically authorize full payment during the creation of customer invoice using this pay code. Leave this checkbox blank to require accessing the Authorize Payment function in the Accounts Receivable module to record payment for a customer invoice. This function is disabled if you choose the Terms type. This feature is applicable only for the Accounts Receivable module.

oCredit Card Processing

Mark this checkbox to make this pay code available for use in credit card processing transactions. This checkbox is unmarked and disabled when this pay code's payment type is other than "Credit Card," is set to automatically pay invoice, and/or is set not for use in the Sales Order and Accounts Receivable transactions. This feature is applicable only for the Accounts Receivable and Sales Order modules.

oInvoice is Subject to Finance Charges

Mark this checkbox if customer invoice past due balances using this pay type are subjected to finance charges. If this option box is not marked, no charges will be applied for past due transactions to which the current pay code is assigned even if the customer past due amounts are eligible for finance charges.

8.In the Terms area, set up the detail settings for this pay code by entering values on the respective fields and choosing options as follows:

oDiscount Percent

Enter in this field the discount percentage rate for payments made within the discount period. The system shows the discount percentage rate as a whole percentage followed by two decimal places (e.g., enter 2% as 2.00).

oDiscount Days Type

Click the List box button to determine the date from which the system will start counting the discount days. The following are the available options:

•From Invoice Date

Choose this option if you want the system to count the discount days starting from the date of the invoice. Choosing this option will enable the Discount Days and Net Days fields, while the Date Table grid is disabled.

•Date Table

Choose this option if you want the system to count the discount days based on the dates specified in the table grids. Choosing this option will enable the different columns in the Date Table grid and will also enable the Append row to end, Insert row before current, and Delete buttons found the grid toolbar.

9.If you choose the From Invoice Date option in the Discount Days Type field, enter values in the following enabled fields to set up the detail settings of your discount:

oDiscount Days

Enter in this field the number of days from the invoice date that the system will allow application of discounts. For example, Invoice date is August 10, 2016; Disc Days is 10 days, the system will allow application of discount only until August 20, 2016.

oNet Days

Enter in this field the number of days from the invoice date that will automatically classify an invoice as due for payment. If the value in this field is 0, the invoice is automatically due for payment upon its creation. For example, if the invoice is dated March 31, with terms 2%10Net30, the 2% discount will apply if the invoice is paid by April 10th and payment is due in full by April 30th.

10.If you choose the Date Table option in the Discount Days Type field, perform the following steps to set up values as a guide in determining when an invoice will be eligible for discount and when the invoice will be due:

10.1. Click the Append row to end or Insert row before current button in the the grid toolbar to add a new line in the Date Table grid.

10.2. The Start Date/End Date fields defines the invoice date range wherein the discount you specify is applicable. Click the List box button in the End Date column to select a date as the end of the date range.

Note: AccountMate automatically provides the values in the Start Date column and requires that the very first Start Date in the grid always starts at "1". You may enter multiple date ranges in the grid; however, you must enter the very last date range with the End of Month option in the End Date column.

10.3. Enter in the Discount Date field the discount date applicable for invoice dates that fall into this range of start and end dates. When computing for the invoice discount date the system considers the value entered in the Month to Add field. A 0 value in the Month to Add field specifies that the discount date will fall within the same invoice month. A 1 value specifies that the discount date will fall a month after the invoice month and so on.

10.4. Enter in the Month to Add field the number of months to add to the discount date specified in the Discount Date field. A 0 value specifies that the discount date will fall in the same invoice month. A 1 value specifies that the discount date will fall a month after the invoice month and so on.

10.5. In the Due Date column, enter the due date applicable for invoice dates belonging to this range of start and end dates. The system considers the value entered in the Month to Add field when computing for the invoice due date. A 0 value in the Month to Add field specified that the due date will fall within the same invoice month. A 1 value specifies that the due date will fall a month after the invoice month and so on.

10.6. Enter in the Month to Add field the number of months to add to the due date specified in the Due Date field. A 0 value specifies that the due date will fall in the same invoice month. A 1 value specifies that the due date will fall a month after the invoice month and so on.

Note: The value in the Due Date field must be equal to or later than the value in the Discount Date field; otherwise, you will get a message that the pay terms specified is invalid.

Comprehensive Illustration:

Discount Date Table
Start Date	End Date	Discount Date	Month to Add	Due Date	Month to Add
1	10	9	1	15	1
11	20	19	1	25	1
21	End of Month	End of Month	1	End of Month	2

Discount Dates Count from Discount Date Table
Invoice Date	Discount Date	Due Date
08/02/2023	09/09/2023	09/15/2023
08/09/2023	09/092023	09/15/2023
08/12/2023	09/19/2023	09/25/2023
08/22/2023	09/30/2023	10/31/2023
08/30/2023	09/30/2023	10/31/2023

Set Up Pay Code

Set Up Pay Code

Comprehensive Illustration:

See Also