Creating a New Cycle

You can add new cycles based on the accounting needs of your company or organization. You can configure a cycle so that PaymentNet will automatically generate the periods within the cycle, or you can manually create the periods, if you prefer.

Note:A period is defined as a sub-portion of a cycle.

To create a new cycle:

1. Select Administration > Cycles.

2. Click Add New Cycle.

3. Enter a name for the new cycle in the Name field.

4. If you want PaymentNet to determine which period is the current period for the cycle, select Automatically Adjust Current Indicator.

5. To allow PaymentNet to automatically generate the periods within the cycle, use the Create Periods For This Cycle fields. For more information, see Using Automation to Set Up Periods within a Cycle.

   If you prefer to configure the periods manually, use the fields at the bottom of the Cycle Detail screen. For more information, see Creating Periods within a Cycle using a Manual Process.

6. When the cycle periods are configured as desired, click Save.