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. Navigate to the Mode of Payment list and select “New.”
2. Provide a name for the Mode of Payment.
3. Specify the type as Cash, Bank, or General.
4. This helps identify the payment mode utilized in Point of Sales (PoS).
5. Assign a default payment Account for all companies.
6. Save the changes.

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:

  * Company form
  * Mode of Payment default account
  * Customer/Supplier default bank account
  * Select manually in Payment Entry

2. Related Topics

1. Payment Entry
2. Payment Request