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

1. Go to the Mode of Payment list and click on New.

2. Enter a name for the Mode of Payment.

3. Set a type whether Cash, Bank, or General. This is useful for knowing the mode of payment used in Point of Sales (PoS).

4. Set a default payment Account for all the companies.

5. 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: