Configure Payment Methods
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Payment methods define the way you prefer for customers to pay you, and how you like to pay your vendors. The method can vary for each customer or vendor.
After you set up payment methods, you can assign them to customers and vendors on the Payments FastTab of the individual customer and vendor cards.
Set up a payment method
To set up a payment method, follow these steps:
Choose
, enter payment methods, and then choose the related link.The Payment Methods page opens.
On the action bar, choose New.
A new row appears.
In Code and Description, specify a code and a description for the payment method.
In Bal. Account Type and Bal. Account No., specify to which account type and number the balancing entry is to be posted.
To specify that the payment method is to be used for direct debit collection, select the Direct Debit checkbox.
In Direct Debit Pmt. Terms Code, specify the payment terms that are to be used when the payment method is used for direct debit collection.
In Pmt. Export Line Definition, specify the data exchange definition in the data exchange framework that is to be used to export payments.
In Bank Pmt. Type, specify the payment type that the AMC Banking 365 Fundamentals extension requires when you export payments that have the selected payment method.
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