In sales and purchase transactions, there are diverse methods available for settling payments, including cash, bank transfers, and promotion vouchers, among others. In BizCentric, you have the flexibility to create Mode of Payments tailored to your needs. Within the Payment Entry interface, you can designate the applicable Mode of Payment.

You can manage existing standard Mode of Payments and establish new ones through the following path:

Accounting > Setup > Mode of Payment

Within each Mode of Payment master, you also have the option to specify a default payment account. Upon selecting a Mode of Payment, the corresponding payment account will be automatically retrieved in the transaction.