Mode of Payment

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 Sales (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:

Updated on: 27/03/2023