Payments · question
Do direct debits and EFT payments count for PTRS?
Quick answer
The payment method itself does not determine whether a payment is reportable. The key question is whether the payment was made under a reportable trade credit arrangement and whether a specific exclusion applies.
What does this mean?
The Regulator's guidance defines reportable trade credit payments by reference to the underlying arrangement, not by whether payment was made by EFT, direct debit or another payment method. A payment made under a trade credit arrangement should therefore be considered for inclusion unless one of the specific exclusions in the Rules or guidance applies.
Practical point
Do not remove payments from your dataset simply because they were made by direct debit or EFT. First determine whether the underlying transaction was a trade credit arrangement, then apply the relevant exclusions.
About this interpretation
The Regulator's guidance does not specifically identify direct debit or EFT as separate inclusion or exclusion categories. This answer is based on the Regulator's definition of a trade credit arrangement and the absence of a payment-method exclusion for those methods.
Other ways people ask this
- Do direct debits need to be included in a Payment Times Report?
- Are EFT payments reportable under PTRS?
- Does the way an invoice is paid affect whether it is reportable?
- Are automatic payments included in Payment Times Reporting?
Official sources
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Payment Times Reporting Guidance Materials
Trade Credit ArrangementsParagraph: 112 · Example: 22 · Page: 32
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Payment Times Reporting Guidance Materials
Preparing the TCP DatasetParagraphs: 127, 130 · Page: 35
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Worked Example – Standard Payment Times Report
GlossaryReference: Trade Credit Payment
Related guidance
Preparing a Payment Times Report?
Monochrome Compliance can help with the data preparation, validation, reconciliation and reporting process.