Code
Each Payment Method requires a unique code of up to ten characters. A short but meaningful code is best.
Active?
Untick to prevent this Payment Method being available to new records.
Description
Enter a description of the Payment Method. This should be a description that easily identifies this Payment Method.
Type
Select the Payment Type. This defines the link between the Bank Transaction and its Bank Account, e.g. "Payment Types" of Cash or Cheque need to be lodged via Lodgements.
Direction
- Incoming - Items received as an Account payment, e.g. Direct Debits initiated by the Finance Company.
- Outgoing - Items paid for Disbursements/Commissions, e.g. Withdrawals on Accounts.
Enter any Notes you wish to record about this Payment Method
Enter any Notes you wish to record about this Payment Method.