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Kind of rule: This refers to what type of payment will need to be made.
There are 3 possible choices:Absolute: This is a fixed payment amount that is the same, independent of any other factors. The absolute rule is setup with a fixed value (i.e. 200 €).
Relative: This is an amount that depends on other factors such as previous payments made. The relative rule is setup based on a percentage value (i.e. 25%).
Remainder: This refers to everything that still needs to be paid.
Value: When the absolute or relative kind is chosen, you are also required to enter the rule’s value or the amount that needs to be paid.
Valid Resources: This refers to which resources the rule will be valid. Thera are 4 different options here and:
All resources: the respective rule is used for all kind of recources
Resources of type: different types of resources, like ‘accommodation type’ and ‘Product types’
Resources of kind: different kinds of resources like ‘commission’ and ‘cancellation fee’
Resource: selecting this option allows you to browse for a specific resource.
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This is the final window where you have a recap of all of the setup you just went through. You can navigate back if you need to make any changes. You will also be able to edit the rule once it is created. Click on “Finish” to finalize the setup of your rule.
Best practices
To properly setup your payment term rules and have the expected output, here are some best practices that need to be followed :
Do not use the rule type “Remainder” in a term that is not the last one within the payment term set.
Example : Within a given Payment Term Set, you have configured the Main Terms as follows :
Main Term 1 : 50% down payment
Main Term 2 : Remainder of what needs to be paid for the reservation
Main Term 1 should not have a rule configuration of type “Remainder” as this type of rule should only be used on Main Term 2, since it is the last term in the Set.
Have the same type for all rules within a given term. if a given type of resource needs to be fully paid, you can use the type “Relative” with a value of 100.
⭐ Conclusion
Congratulations, you have successfully setup your first payment term! You can re-run the different wizards that we have seen as many times as needed to create multiple payment term sets, payment terms and rules.
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