Payment Configuration
Configure payment terms, bank accounts, and payment methods for your legal entities.
Payment Terms
Section titled “Payment Terms”Default Payment Terms
Section titled “Default Payment Terms”Set organization-wide defaults in Tapr Settings > Defaults:
- Standard Payment Term
- Early Payment Discount options
- Late Payment Interest rates
Common Payment Terms
Section titled “Common Payment Terms”| Term | Days | Description |
|---|---|---|
| Net 10 | 10 | Due in 10 days |
| Net 30 | 30 | Due in 30 days |
| Net 60 | 60 | Due in 60 days |
| 2/10 Net 30 | 30 | 2% discount if paid in 10 days |
| Due on Receipt | 0 | Immediate payment |
Creating Custom Terms
Section titled “Creating Custom Terms”- Go to Settings > Payment Terms
- Click + New
- Configure days and discounts
Due Date Calculation
Section titled “Due Date Calculation”TaprNext automatically calculates due dates based on invoice date and selected payment term. The system can detect explicit due dates on invoices and payment terms text. Manual overrides always take precedence.
Bank Account Configuration
Section titled “Bank Account Configuration”Per Legal Entity
Section titled “Per Legal Entity”Each legal entity can have multiple bank accounts for matching purposes, configured with:
- Bank name
- IBAN/Account number
- BIC code
- Currency designation
Vendor Bank Details
Section titled “Vendor Bank Details”Extracted from invoices and stored on vendor records:
- IBAN/Account number
- BIC/SWIFT code
- Bank name
Payment Methods
Section titled “Payment Methods”Supported Methods
Section titled “Supported Methods”| Method | Description | Auto-Post |
|---|---|---|
| Bank Transfer | Standard wire/SEPA | Yes |
| Direct Debit | SEPA Direct Debit | Yes |
| Check | Physical check | No |
| Credit Card | Corporate card | No |
Default by Vendor
Section titled “Default by Vendor”Set preferred payment methods per vendor in the vendor record.
Currency Configuration
Section titled “Currency Configuration”Multi-Currency Support
Section titled “Multi-Currency Support”- Define base currency
- Enable additional currencies
- Configure exchange rate source
- Enable automatic daily rate updates
Exchange Rate Handling
Section titled “Exchange Rate Handling”For foreign currency invoices, the system captures rates at the invoice date, applies them for ERP posting, and tracks variances if rates change.
Integration with ERP
Section titled “Integration with ERP”Payment information syncs to the ERP system:
- Payment terms
- Due dates
- Vendor bank accounts
- Invoice amounts
- Currency designation
Payment execution occurs in the ERP after posting.