Setting up Payment Methods
Payment methods determine how customers pay you and how you pay vendors. You can assign a payment method to a customer or vendor so that the chosen method will be automatically assigned to sales and purchase documents created for this vendor or customer. To set up payment methods, please proceed as follows:
- Use the quick search (ALT+Q) to find the Payment Methods page.
- To set up a payment method, click on New in the menu bar.
- Complete the information according to the following table: Mandatory fields are highlighted in bold, optional fields in italic.
| Field | Description |
|---|---|
| Code | Specify a code for the payment method, e.g. CASH. |
| Description | Enter a significant description for the payment method. |
| Payment Limit Incl. VAT | Enter a value for the payment limit incl. VAT for the payment method. When posting a sales or service document, the value will be compared to the Total Amount Incl. VAT. If the payment limit defined in this column for the payment method is exceeded, you will receive an error message and the booking process will be canceled. |
| Cash Payment | Select this checkbox if the payment method is cash. If the Ship only against cash payment option is blocked for a customer, a payment method in which this checkbox is selected must be selected in sales, service, or rent documents in order for the document to be processed. |
| Bal. Account Type | Enter the type of account that the balancing entry is posted to. |
| Bal. Account No. | Enter the number for the balancing account. |
| Direct Debit | Select this checkbox to enable direct debit for the payment method. |
| Direct Debit Pmt. Terms Code | Enter the payment terms code for direct debit payments. |
| Pmt. Export Line Definition | Specify how the export of payments should be processed for this payment method. |
| Bank Pmt. Type | Enter the payment type for the export of payments with this payment method. |
You have successfully set up a new payment method.