Financial Settings

Accounting Projects

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on Accounting Projects.
• You will see a list of existing accounting projects. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Accounting Project button.
• You will be required to select a business unit and enter in a code.
• Click Save Changes to complete.

Bank Accounts

In Rhythm, bank accounts are associated with non-electronic payments. They allow you to track the Cash GL account associated with these transactions.

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on Bank Accounts.
• You will see a list of existing bank accounts. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Bank Account button.
• You will be required to select a business unit, name and select a currency. The GL Account field is used to reconcile cash associated with non-electronic payments.
• Click Save Changes to complete.

Business Units

In Rhythm, business units represent different financial entities or books associated with your association.

• To manage business units, go to Finance & Billing in the app menu at the top of the screen.
• On the left navigation menu, click Setup.
• Click on Business Units.
• You will see a list of existing business units. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Business Unit button.
• You will be required to enter in a name, set fiscal year start, base currency and financial management system.
• You can set the default GL Accounts associated with batch posting and fiscal year closing.
• For transactions that span multiple business units, you can set your inter-business due to/due from GL codes.
• If you have created your own templates for invoices and receipts (payment and refund), you can set whether to use those here. Otherwise, the system default will be used. 
• Click Save Changes to complete.

Contact Role Permissions

In Rhythm, contact role permissions dictate what a contact can perform in the portal when managing their organization (based on role). For financials, this gives a contact the ability to view financial history and/or make payments for their organization.

• To manage contact role permissions. go to Finance & Billing in the app menu at the top of the screen.
• On the left navigation menu, click Setup.
• Click on Contact Role Permissions.
• You will see a list of existing contact roles and have the ability to set the financial permissions that each role should have when managing their organization.  
• Click Save Changes to complete.

GL Accounts

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on GL Accounts.
• You will see a list of existing GL Accounts. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create GL Account button.
• You will be required to select a business unit and enter in a code.
• Click Save Changes to complete.

Installment Plans

In Rhythm, installment plans allow you to create plans that let a customer pay for items over a period of time.

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on Installment Plans.
• You will see a list of existing installment plans. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Installment Plans button.
• You will be required to enter in the name.
• You can set whether a  customer is charged a certain percentage or fixed amount upfront.
• Installments can be set to bill customers:
  • On regular schedules with fixed installments
  • On specific dates
  • On specific dates relative to the initial order
• You can set the schedule based on how installments are generated:
  • For fixed installments - you can set the schedule to be daily, weekly, monthly, yearly or advanced using Cron Expression. The number of installments is required for this method.
  • For specific dates installments - you can enter in each date and the percentage charged for each.
  • For specific dates relative to the initial order - you can enter in a time interval and the percentage charged.
• Click Save Changes to complete.

Installment Plans

In Rhythm, installment plans allow you to create plans that let a customer pay for items over a period of time.

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen.
• On the left navigation menu, click Setup.
• Click on Installment Plans.
• You will see a list of existing installment plans. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Installment Plans button.
• You will be required to enter in the name.
• You can set whether a customer is charged a certain percentage or fixed amount upfront.
• Installments can be set to bill customers:
  • On regular schedules with fixed installments
  • On specific dates
  • On specific dates relative to the initial order
• You can set the schedule based on how installments are generated:
  • For fixed installments - you can set the schedule to be daily, weekly, monthly, yearly or advanced using Cron Expression. The number of installments is required for this method.
  • For specific dates installments - you can enter in each date and the percentage charged for each.
  • For specific dates relative to the initial order - you can enter in a time interval and the percentage charged.
• Click Save Changes to complete.

Late Fees

In Rhythm, you can apply late fees to certain transactions.

• From the app menu at the top of the screen, click on Finance & Billing.
• In the left navigation menu, click on Setup.
• Click on Late Fees.
• The menu will expand and you will have the ability to click on:
  • Products
  • Rules
• When clicking Products, you can create a new late fee product which is used as the line item when a late fee is applied
• When clicking Rules, you will have the ability to set the:
  • Type of invoice that the rule applies to
  • Percentage or Flat fee to charge
  • Grace period in days
  • Late fee product to apply
• Click Save Changes to complete.

Merchant Accounts

In Rhythm, merchant accounts are associated with payment processors used to accept electronic credit card payments, e-check payments, and electronic refunds. They allow you to track the Cash GL account associated with these transactions.

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on Merchant Accounts.
• You will see a list of existing merchant accounts. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Merchant Account button.
• You will be required to select a business unit, name, and a currency. The GL Account field is used to reconcile cash associated with electronic transactions. 
• Select a payment processor and the associated account.
• Click Save Changes to complete.

Payment Terms

In Rhythm, payment terms allow you to set due dates on invoices based on the date purchased. Payment terms can be selected when creating an invoice for a contact/organization. 

• To manage accounting projects, go to Finance & Billing in the app menu at the top of the screen. 
• On the left navigation menu, click Setup.
• Click on Payment Terms.
• You will see a list of existing payment terms. You can hover over an existing item to edit or delete it.
• To create a new one, click the Create Payments button.
• You will be required to enter in the number of days for the term. This will auto populate the name field with “Net,” followed by the number of days entered. 
• Click Save Changes to complete.

Templates

Rhythm comes with default templates for batch downloads, invoices, payment receipts, and refund receipts. We give you the ability to create your own templates and associate them with the business unit.

• From the app menu at the top of the screen, click on Finance & Billing.
• In the left navigation menu, click on Setup.
• Click on Templates.
• The menu will expand and you will have the ability to click on:
  • Batch Downloads
  • Invoices
  • Payment Receipts
  • Refund Receipts
• Once you click on the template that you are looking to create, click on the Create Template button.
• This is an advanced feature and creating templates requires knowledge of Javascript.
• Click Save Changes to complete.