The Mode of Payment stores the medium through which payments are made or received.
To access the Mode of Payment list, go to:
Home > Accounting > Settings > Mode of Payment >
1. How to create a Mode of Payment
- Go to the Mode of Payment list and click on New.
- Enter a name for the Mode of Payment.
- Set a type whether Cash, Bank, or General. This is useful for knowing the mode of payment used in Point Of Sale (PoS) .
- Set a default payment Account for all the companies.
- Save.
Tip > : Setting the default Account will this account fetched into > > Payment Entries > > . >
Note > : When making Payment Entries, the default bank account will be fetched in the following order if set: >
Company form >
Mode of Payment default account >
Customer/Supplier default bank account >
Select manually in Payment Entry >