(AP – Accounts Payable Setup – AP Payment Types)
User-defined payment types are used to classify and control the processing of supplier payments. Whenever you make a supplier payment, you must specify the payment type.
Link:
Startup Guide - Payment Types
Field Explanations
Payment Type
Enter an up to 10-character code to identify the payment type on lookups and screens.
Description
You can enter an up to 50-character description to accompany the Payment Type on lookups.
Method
Four options are available:
Select this option if this payment type’s transactions are to be paid by printed check.
MANUAL
Select this option if this payment type’s transactions are to be paid by manual check.
FILE
Select this option if this payment type’s transactions are to be paid by electronic file transfer.
CCARD
Select this option if this payment type’s transactions are to be paid by credit card.
The default Payment Type is set from the Admin – System Defaults menu choice, which is documented in section 2-8 of this guide.
