Payment Methods

Payment Methods are used to distinguish the various forms of tender which are received by your company. These records are also used to map the payments for posting to the general ledger, or for grouping in deposits. This feature can also be used to subdivide your payments into categories of your own creation.

Select the payment tender type from the list provided. Choose from Cash, Check, Credit Card, Debit Card, Credit, Other or Gift Certificate. Gift Certificate tender requires the serial number tracker module to be included with your license.

Enter a full description of the payment method here. This will also show in any lookup or drop lists and on letter-sized receipt printouts.

Enter an abbreviated description of this payment method, up to four characters. This will show on some reports, 40-column, and 20-column receipts only.

Select the method by which payments of this type should be deposited. Choose from Cash Drawer, Delayed Group, or Direct To GL. This choice will directly affect how payments of this type are grouped for deposit and posted into your general ledger.

Cash Drawer

Payments of this method are automatically grouped by location and/or employee for deposit purposes. This method is normally used by retail companies.

Delayed Group

Payments of this method are selected by the user to group for deposit purposes. This method is used when payments are grouped together for one deposit.

Direct To GL

Payments of this method are posted directly to the general ledger after creation, using the GL account provided. This method is used when payments are deposited individually.

Select the GL account that payments of this type should post directly to upon entry. This field is visible only if the deposit method is set to Direct To GL.

When checked, this payment method will not show up on any lookup or drop list. This will be preset for internal payment method types. You may also select it on payment types you do not wish to use.

When checked, the use of this payment method will cause an attached cash drawer to open when a receipt is entered.

When checked, this method of payment will be available for use in the Point Of Sale software.

When checked, this method of payment can be used more than once in the Point Of Sale software. This is helpful for when a payment is to be split across two or more checks or credit cards. This checkbox is only available when the prior checkbox is selected.

When checked, this payment method can have a maximum tendered of the amount entered.

Q01.	What are the "Refund Credit" and "Refund Applied" payment methods used for?

A01.

These internal methods are used in conjunction with refunds which are applied to customer accounts. A Refund Credit (negative) payment is always posted to offset the refund itself. In addition, if the refund is applied to the account, a Refund Applied (positive) payment record is also recorded for the amount applied.

A02.	If the payment method has already been used, we recommend that you mark the method as "Inactive." Certain internal payment methods cannot be deleted. However, all other methods can be deleted, and you can add your own.

Q03.	Can the program process credit card payments without the use of a merchant terminal?

A03. Absolutely. Please see the Payment Authorization settings in Setup Company for more information.

A04.

When this method is used, all cash and check tendered payments are grouped into cash drawers/deposits for posting to the general ledger. Otherwise, individual payments are posted using the provided debit general ledger account. In general, the deposit method of receiving payments is the more common technique used by businesses.

Q05.	I am seeing detail in my general ledger operating account, but I should only be seeing deposits. Why am I seeing the details?

A05.	This is most likely caused by payment methods being set to "Direct to GL" instead of "Delayed Group."

Q06.	I don't see my question here. Where else can I get information?



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