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.

    Mode of Payment

Tip: Setting the default Account will this account fetched into Payment Entries.

Mode of Payment

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
  1. Payment Entry
  2. Payment Request
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