Configure payment methods
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.
Set up a payment method
To set up a payment method, follow these steps:
Select the Search for Page icon in the top-right corner of the page, enter payment methods, and select the related link.
Select New.
In the Code and the Description fields, enter a code and a description for the payment method.
In the Bal. Account Type and Bal. Account No. fields, you can specify to which account type and number the balancing entry should be posted.
The Direct Debit field specifies if the payment method is used for direct debit collection.
The Direct Debit Pmt. Terms Code field specifies the payment terms that will be used when the payment method is used for direct debit collection.
The Pmt. Export Line Definition field specifies the data exchange definition in the Data Exchange Framework that is used to export payments.
The Bank Pmt. Type field specifies the payment type that the AMC Banking 365 Fundamentals extension requires when you export payments that have the selected payment method.
When you set up payment methods, you can assign them to customers and vendors on the Payments FastTab of the individual customer and vendor cards.