International Payment Practices Reporting Obligations

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This article outlines payment practices reporting requirements across different jurisdictions and explains how ERP system helps you meet these obligations.

European union requirements

EU late payment directive

1. Key requirements:

   • Maximum 60-day payment terms unless expressly agreed
   • 30-day standard for public sector
   • Automatic entitlement to interest for late payments

2. Reporting considerations:

   • Payment term tracking
   • Interest calculation
   • Public sector compliance

Country-Specific Requirements

France

• Mandatory 30-day payment terms.
• Specific penalties for late payments.
• Required reporting periods:
  • 0-30 days
  • 31-60 days
  • 61-90 days
  • 91+ days

Germany

• Standard 30-day payment terms.
• Explicit agreement required for longer terms.
• Automatic interest penalties.

Australia and New Zealand

Payment Times Reporting Scheme (AU)

1. Reporting requirements for businesses with:

   • Annual income over AUD 100 million
   • Semi-annual reporting periods

2. Required metrics:

   • Payment term details
   • Supply chain finance arrangements
   • Small business identifiers

Reporting Periods (AUNZ)

• 0-21 days.
• 22-30 days.
• 31-60 days.
• 61-90 days.
• 91+ days.

Setting up international reporting

1. Choose the icon, enter International Payment Setup, and then choose the related link.

2. Configure for each jurisdiction:

   • Reporting thresholds
   • Payment period definitions
   • Required metrics

3. Set up country-specific features:

   • Interest calculation methods
   • Small business identification
   • Supply chain finance tracking

Compliance monitoring

Report generation

1. Select jurisdiction-specific templates.
2. Enter reporting period.
3. Generate required metrics.
4. Review compliance status.

Cross-Border Considerations

• Multi-entity reporting.
• Currency conversion rules.
• International payment standards.

Related information

PayTrack 365 Overview
UK Reporting Requirements
Generate Payment Practice Reports
ESG and Payment Practices