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Setting up cutoff times

Updated on March 21, 2023

Your organization can define the time of day after which completed transactions must be posted to the next business day. A cutoff rule named Default, defined by the Rule-PegaAcct-Financial-Cutoff rule, uses a warning time and a cutoff time. The rule ensures that business hours are not included in the cutoff time.

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Before you begin:

If your organization requires different cutoff times for different payment types, create new cutoff rules in your ruleset and update your Rule-PegaAcct-Financial-PaymentTyperules to reference them. Any number of payment types can refer to the same cutoff rule.

For example, if your card processing system has a settlement deadline, then the Rule-PegaAcct- Financial-Cutoff rule can define the cutoff times. Each payment type sent to the card processing system for settlement can reference the Settlement cutoff rule in the Rule-PegaAcct-Financial- PaymentType rule. When a deadline or processing window changes, you can update the Settlement rule. All payment types referencing the Settlement rule automatically become a subject to the new cutoff schedule.

The warning and cutoff times in the rule affect only the user interface. When processing an accounting step that has not yet been posted (at creation, verification, or held in cutoff), you see a yellow clock icon next to any transaction that is past its warning time and a red clock next to any transaction that is past its cutoff time.

  1. In the Application Explorer, search for the Rule-PegaAcct-Financial-Cutoff class, and select the Default rule to use as a template for a new account type.
  2. Click Save As.
  3. In the Apply to field, select the appropriate implementation class for your application.
  4. In the Add to ruleset list, select the ruleset for your application.
  5. Click Create and open.
  6. Configure the cutoff times.
  7. Click Save.
  8. In the PegaAcct-Financial-PaymentType class, associate the new cutoff times with the payment type rules.

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