Modify Payment Types

Explanation

Use this activity to enter, change, and view payment types used by the company. This mandatory task is to be performed by a system administrator or equivalent person.

A payment type identifies the function that created the payment and the type of operation to which the payment refers. Each payment type is linked to a payment series. By linking different payment series for different types of payments, you facilitate follow-up of various types of payment. The recommended minimum number of payment series is two: one for customer payments and one for supplier payments

The following payment types are created automatically when a company is created:

• Automatic Payment
• Cash Supplier Check
• Supplier Check Payment
• Complete Rollback of Customer Bill of Exchange
• Complete Rollback of Customer Check
• Complete Customer Rollback
• Complete General Rollback
• Complete Rollback of Supplier Bill of Exchange
• Complete Supplier Rollback
• Customer Automatic Payment
• Customer Bill of Exchange Payment
• Customer BoE sent for cashing before due date
• Customer BoE sent for cashing on due date
• Customer Check Payment
• Customer Offset
• Customer Payment
• Customer Offset With Supplier
• Customer Tax Withholding
• General Payment
• Manual Check Payment
• Partial Customer Rollback
• Partial Supplier Rollback
• Rollback of Cashed Supplier Check
• Rollback of Voided Supplier Check
• Settle Customer Bill of Exchange
• Supplier Bill of Exchange Payment
• Supplier Offset With Customer
• Supplier Offset
• Supplier Payment
• Supplier Tax Withholding
• Void Check

Prerequisites

This activity has the following prerequisites:

• IFS/Payment must be installed.

System Effects

As a result of this activity:

• The payment transaction can be identified.
• Linking different payment series for different types of payments facilitates follow-up of various types of payment.

Window

Payment Types

Related Window Descriptions

Payment Types

Procedure

To perform this activity, follow these steps:

1. Open the Payment Types window.
2. Query for the payment types to define or view.
3. To change the description, use the Description field.
4. To change the series ID, select a new ID from the List of Values.
5. Save the changes.