Finance settings control the account-wide choices used by Finance & Billing screens and services. They set the merchant account Rhythm uses when a payment does not name one, the customer statement template Rhythm uses when no template is selected, and whether staff see general ledger (G/L) fields while editing products elsewhere in Rhythm.
Prerequisites
- You need permission to use the Other Settings page in Setup.
- Create at least one merchant account before you set a default merchant account.
Where to Find It
Go to Finance & Billing › Setup › Other Settings to set the default statement template and choose whether staff can edit G/L information. To set the default merchant account, go to Finance & Billing › Setup › Merchant Accounts and select the (change) link beside the current default at the top of the list.
The Settings
| Setting | Options | Default | Effect |
|---|---|---|---|
| Default Merchant Account | Any active merchant account in your Rhythm account | None until you set one | Rhythm uses this merchant account for any card or bank payment, from any business unit, when the payment does not name its own merchant account |
| Default Customer Balance Statement Template | Any statement template in your Rhythm account, or blank | Blank ("Leave blank for system default") | Rhythm uses this template for a customer balance statement when the statement does not name one |
| Should users be able to modify G/L information when creating or editing products? | No; Yes, optional; Yes, required | No | Controls what G/L information product editors store when they use this setting |
| Guidance to display | Rich text | Empty | Rhythm shows this guidance beside the G/L fields when the setting above allows staff to modify G/L information |
| Save payment method for future use | On/off | On | Controls whether checkout and payment screens show the checkbox that lets a payer securely save their card or bank account for later; turning it off removes that checkbox |
Changing Your Payment Processor
To move your account to Stripe for payment processing, first add your Stripe accounts under System › Integrations › Stripe. After Stripe is configured, the processor is changed on this Other Settings page, but only Rhythm staff can make that change. Stripe Options appear on this page only after Stripe has been enabled for your account, so you will not see them before then.
Warning
Your Rhythm account has one finance settings record, not one per business unit. When you save one of these screens, Rhythm replaces the whole record with the copy that screen loaded when it opened. If two administrators have different Setup screens open at the same time and both save, the second save can silently undo the first administrator’s unrelated change. Avoid leaving a Setup screen open and unsaved for long, and check your change after saving if someone else may be working in Setup at the same time.
The First Save
Your Rhythm account does not have a finance settings record until someone saves one of these screens for the first time. Until then, each screen opens with blank or default values. The first save from Other Settings, Contact Role Permissions, or the Merchant Accounts default dialog creates the record, and every later save replaces it. Some Portal pages expect this record to exist, including the page members use to pay open invoices, so save your finance settings at least once while setting up your Rhythm account, even if you keep every default.
Dependencies and Precedence
Payments. When an electronic payment does not name a merchant account, Rhythm first charges it through your Rhythm account’s default merchant account, regardless of the payment’s business unit. If there is no default, Rhythm uses the first active merchant account in the payment’s own business unit. Because Rhythm checks the default first, a default set for one business unit can charge a payment that belongs to another.
Statements. When Rhythm generates a customer balance statement, it checks these sources in order: text supplied directly with the request, a template named by the request, your Rhythm account’s default template, and then Rhythm’s built-in template.
Where payments post. If payments post to a G/L account you did not intend, that is not controlled here. The G/L account selected on the relevant bank or merchant account in your account setup determines where the payment lands. See Chart of Accounts, Bank Accounts, and Reporting Dimensions to remap it.
Invoice payment terms. This page does not set one account-wide default for invoice payment terms. Each area that creates invoices has its own place to set that default: store finance settings for online orders, membership finance settings for membership orders, and event registration finance settings for event orders. If you need to change how an invoice due date is calculated, check the area that created the invoice.
Change Impact and How to Revert
Changing the default merchant account or default statement template affects only payments and statements created after you save. Rhythm does not change anything already charged or generated. To revert either default, reopen the relevant page and choose the previous account or template again. To stop using a default statement template, clear the statement template field so Rhythm uses its built-in template.
Why You Usually Cannot Delete a Default Merchant Account
You cannot delete a merchant account while your finance settings name it as the default. Change the default to another account first, then delete the merchant account you no longer need.
Warning
The same protection does not currently apply to the default statement template. Rhythm does not stop you from deleting a statement template that your finance settings still name as the default. Later statement generation for accounts that fall through to that default fails instead of falling back to Rhythm’s built-in template. Before you delete a statement template, check whether it is set as your Rhythm account’s default on Other Settings, and change the default first if needed.
If the merchant account name shown here does not match what you are actually using, such as after a processor change, Rhythm staff may need to update that display for you. There is no self-service option to pick a different account yourself in that case. Contact Support if the name shown does not reflect your current setup.
Permissions
To set the default merchant account, you need the merchant accounts permission in Setup. To set the statement template default and the G/L-editing option, you need the Other Settings permission.
Legacy payment-processor cutover settings work a little differently when your account transitions between processors. After those fields are entered the first time, they become read-only for everyone except Rhythm staff administrators, who can still edit them afterward. If you need a cutover date or setting changed after it has been saved, contact Support instead of changing it directly.
Validation and Errors
| Message contains | Cause | Fix |
|---|---|---|
| The default merchant account dialog has nothing to choose | No merchant account exists yet | Create a merchant account first |
| The default merchant account dialog cannot be saved with the field blank | The field is required after you open the dialog | Choose an account, or close the dialog without saving |
| Delete of a merchant account refused | The finance settings name this account as the default | Change the default on Merchant Accounts, then delete the account |
| Statements fail with a message about a missing statement template | The default statement template was deleted while it was still named as the default | Choose a different default template on Other Settings |
| "Unable to save settings" | A form value did not pass validation, such as a processor mismatch on a linked field | Recheck each card on the page for the invalid value |
| An error message tells you to configure "collect settings" | This is older terminology for the Finance & Billing settings area used to set the default merchant account | Go to Other Settings or Merchant Accounts, as described above, to set the default |
Tip
If a save on this page or a related Setup screen does not seem to take effect, and the setting you are changing was previously turned off, try turning it on and saving, then turning it back off and saving again. Toggling a previously disabled setting this way can get an otherwise stuck save to go through in several Console areas, including this one.