Payment Methods

Updated November 30, 2023

The system will allow the user to define payment methods, one of which may be assigned, as a default, to a customer or supplier.

Select Add/Edit to create or modify a Payment Method that can be used in the accounting modules for clients or suppliers.

Payment Methods Screens

Code : 5 digit alphanumeric Code to identify the Payment Method.

Description : Brief description of the method of payment.

Type : The user can choose Check, Cash, Visa/Mastercard, Bank Card, Direct or Other.

MerchantID : Use for Card Point 3rd Party Integration.

CC Fee % : If the user selects the Type to be Visa/Mastercard then the CC Fee % field will appear. This will allow the user to enter in a value that the system will use to calculate Card Card Fees associated with handling credit cards and provide a method to automatically create correct Accounts Receivable entries when accepting these payments.

NOTE: The system allows for the creation of multiple payment codes for the same Type of payments. This allows the user to create a Payment Method for each Credit Card company where they may have different CC Fee %.