Setting up Bank Holidays
Payment Management includes a list of Bank Holidays that defines how to handle purchases and payments that fall on a bank holiday or weekend. You can also add or deletes bank holidays. Payment Management will update the due date or cash discount date, if one of these dates is on a bank holiday. The default list provided by Payment Management includes bank holidays for the following countries: DK, NO, SE, FI, DE, UK.
Weekends are per default part of the bank holiday setup, even though they do not figure in the bank holiday list.
Bank holidays are automatically imported to Business Central when setting up the solution. The list of bank holidays comes with a default setup, which can be manually changes if needed.
- Use the icon and search for Bank Holiday Setup, then select the related link. This will open a list of all available bank holidays. You can filter the list by Country Code and Year.
- Use the Edit function to change the settings for the bank holidays.
- Choose how Payment Management must handle bank holidays on purchase documents and payment journals in the Handle Bank Holidays on Purchase field, and in the Handle Bank Holidays on Payments field.
You have 4 selections:
- Blank: Payment Management will not do anything if the cash discount date or due date is a bank holiday
- Move Forward: Payment Management will move the date forward to the first available weekday if the cash discount date or the due date is a bank holiday.
- Move Backward: Payment Management will move the date backward to the first available weekday if the cash discount date or the due date is a bank holiday.
- Ask User: A dialogue will appear if the cash discount date or the due date is a bank holiday. You must then select how you want Payment Management to handle bank holidays for the given payment. The selection Ask User is only an option for managing payments on purchase documents.
- In the action bar, select the Manage action, to add or delete bank holidays in the list.
- If needed, edit the information in the list.
The Country/Region Code determines what is considered being a bank holiday for the given country. The country/region code is used in accordance to the country/region code on the balance account used for the payment.
Bank holidays are automatically imported to Business Central when setting up the solution. Occasionally Continia updates the list of bank holidays, such as extending the list with more years or deleting prior years from the list. You can import Continias updates to the list from Continia Online.
- Use the icon and search for Bank Holiday Setup, then select the related link.
- In the page header, select the Update Bank Holidays action. This will update the list of bank holidays in accordance to the newest bank holiday list available on Continia Online.
Be aware that the action Update Bank Holidays will update the entire list and delete any potential manual changes in the list.