Adding a New Settlement Type

Settlement types are used when recording settlements for employee financial custodies. You can add custom settlement types that suit your business needs and make them immediately available when entering settlements. This article explains how to add a new settlement type.

Before You Begin

•  You must have the permission to manage settlement types in order to perform this action.

Steps to Add a New Settlement Type

• From the main menu, click Finance.
• Select Finance Settings.
• Choose Settlement Types.
• Click the “Add Settlement Type” button.
• Fill in the following fields:
  • Type Name: Enter the name of the settlement type. This field is required and must be unique.
  • Description: Enter a description if you want to add additional details about the settlement type. This field is optional.
  • Status:
    • Active: The settlement type appears in the selection list when entering settlements.
    • Inactive: The settlement type does not appear in selection lists.
• Click Save.

What Happens After Saving?

• The new settlement type is immediately added and becomes available in the settlement type list when entering custody settlements.
• If the settlement type is inactive, it will not appear in selection lists when entering settlements.

Important Rules

• The settlement type name must be unique and cannot duplicate other existing settlement types.
• Required fields must not be left empty when saving.