Admin, Bank Accounts, Payment Methods, Add a Payment Method, Other - Outgoing
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New Bank Account Payment Method, Outgoing

Options

Exclude from New Account Wizard?

Tick to exclude this Payment Method selection when adding a New Account. This will still allow the Payment Method to be selected in the Account Payment Received wizard and Bank Entry.

Exclude from Account Payment Details wizard

Tick to exclude this Payment Method selection when editing the Payment Details on the Account, Payments Page.

Exclude from Account Payment wizard?

Tick to exclude this Account Payment Method selection when adding an Account Payment.

You must be licenced for the Advanced External Parties Add-On to use the functionality described below.

Can this Payment Method be used to pay Disbursements?

Tick where this Payment Method can be used to pay Disbursements.

Combine Interest Payments for the same 'Main' Client?

Tick where this Payment Method will combine Interest Payments for the same "Main" Client.

When the Account Processes are run, Interest Payments will be combined for the same "Main" Client, Payment Method, Date and Bank Account Number.

Only Interest Payments made in the same "Account Processes" run will be combined.

Is the Cheque number required?

When ticked, these wizards Account Refund, Account Withdrawal and Disbursement Account Payments ensure a Cheque Number has been entered.

This checkbox will display on this form. If you have selected Cheque as your Payment Type from the previous page.

Charge a Fee for using this Payment Method where relevant?

Charge a Fee?

Tick to charge a fee for payments using this Payment Method, but ONLY via the Payment Received wizard.

  • Imported Payments will not charge this fee.
  • Whether or not a Fee is actually charged will depend on where the Payment Method is used.

Element

Select the Element to be used when the fee is posted.

Value

Enter the value of the fee to be posted or leave blank to use the Percent.

Percent

Enter the Percentage used to calculate the Fee or leave blank to use a Value.

The fee is calculated on the Gross value of the payment plus fee, e.g. a $100 payment with a Percentage Fee of 2% will generate a Fee value of $2.04 ($102.00 X 2% = $2.04).

To have the Fee as 2% of the net payment value, calculate the Fee Percentage using the following formula:

Percentage Rate = Rate / (1 + Rate)

For example 0.02 + (1.00 + 0.02) = 0.01961 or 1.961%. Using our example payment of $100, this will generate a fee of $2.00 ($102 X 1.961% = $2.00).

Default Reference

References

Enter the default "Particulars;Code;Reference" information for the Payment Method. These are the default Bank references when entering Direct Debits, Disbursements and other Transactions.
Additionally the following Smart Tags can be used:

Click on the Finish button to proceed with adding the Payment Method, click Back to go back a page or click Cancel to cancel adding the Payment Method.

Topic last updated on 15/07/2020 1:14PM BankAccount.AddingAPaymentMethodOther.Outgoing