Method of Payment
The Method of Payment record enables you to specify the content of the Transaction Bank Details record to be used on printed transaction forms separately for invoices, credit memos, sales orders, and purchase orders. It also indicates to the customer or vendor how the payment should be made: by direct debit, bank transfer, cheque, and so on.
Method of Payment records can be assigned to individual customers, vendors or transactions.
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Go to a Customer or Vendor page, click the Invoice Configuration subtab, and select a record from the Default Method of Payment list. To learn more about accessing this page, see Customers or Vendors.
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Go to an Invoice, Credit Memo, Sales Order, or Purchase Order page, click the Invoice Configuration subtab, and select a record from the Method of Payment list.
To learn more about accessing these pages, see the following help topics:
If you assign a certain Method of Payment record to a customer or vendor, it will be automatically used on all invoices, credit memos, sales orders, and purchase orders for this customer or vendor. However, you can still override this setting at transaction level.
To create a new Method of Payment record, go to Setup > Accounting > Customize Document Template, select the Methods of Payment subtab, and click the New Method of Payment button. The Methods of Payment subtab also displays all already existing Method of Payment records. You can view or edit them. Use the respective links.
Alternatively, you can access these records without using the Customize Document Template page. In that case, go to Lists > Accounting > Method of Payment.
The Method of Payment record contains the following fields:
Field |
Description |
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Name |
Enter a name for this method of payment (for example Bank Transfer or Direct Debit). |
Print on Invoice |
Use this dropdown menu to select the content to be printed on every invoice with this method of payment assigned to it. To adjust the texts, edit one of your Transaction Bank Details records (or create a new one). To learn more, see Transaction Bank Details.
|
Print on Credit Memo |
Use this dropdown menu to select the content to be printed on every credit memo with this method of payment assigned to it. To adjust the texts, edit one of your Transaction Bank Details records (or create a new one). To learn more, see Transaction Bank Details.
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Default |
Check this box to make this your default method of payment. When creating a new customer (Lists > Relationships > Customers > New) or a new vendor (Lists > Relationships > Vendors > New), this method will be the default value selected in the Default Method of Payment dropdown list (in the Invoice Configuration subtab). You can only use one default method of payment at the same time. |