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Mode of Payment

The Mode of Payment stores the medium through which payments are made or received.

To access the Mode of Payment list, go to: \u003e Home \u003e Accounting \u003e Settings \u003e Mode of Payment

1. How to create a Mode of Payment​

  1. Go to the Mode of Payment list and click on New.
  2. Enter a name for the Mode of Payment.
  3. Set a type whether Cash, Bank, or General. This is useful for knowing the mode of payment used in Point Of Sale (PoS).
  4. Set a default payment Account for all the companies.
  5. Save.

\u003e Tip: Setting the default Account will this account fetched into Payment Entries.

\u003e Note: When making Payment Entries, the default bank account will be fetched in the following order if set:

\u003e * Company form \u003e * Mode of Payment default account \u003e * Customer/Supplier default bank account \u003e * Select manually in Payment Entry

  1. Payment Entry
  2. Payment Request