{"id":3048,"date":"2021-01-08T05:14:44","date_gmt":"2021-01-08T05:14:44","guid":{"rendered":"https:\/\/impaxafrica.com\/?p=3048"},"modified":"2021-01-08T05:14:44","modified_gmt":"2021-01-08T05:14:44","slug":"set-up-payment-methods-in-business-central","status":"publish","type":"post","link":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/2021\/01\/08\/set-up-payment-methods-in-business-central\/","title":{"rendered":"Set Up Payment Methods in Business Central"},"content":{"rendered":"\t\t
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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. Examples of typical payment methods are\u00a0bank<\/strong>,\u00a0cash<\/strong>,\u00a0check<\/strong>, or\u00a0account<\/strong>.<\/p>

You can assign a payment method to customers and vendors so that the same method is always used on the sales and purchase documents you create for them. If needed, you can change the method on the sales or purchase document. For example, if you want to pay a particular purchase invoice in cash rather than by check. This does not change the default payment method assigned to the vendor.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The same payment methods are used for sales and purchase documents. For example, a\u00a0cash<\/em>\u00a0payment method is used both when you make payments and when you receive them. Business Central knows that when you are creating a sales invoice you expect to receive payment, and the opposite for purchase invoices.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Credit memos for returns, however, are exceptions because money is flowing in the opposite directions, from you to your customer and from your vendor to you. Therefore, a default payment method is not assigned to credit memos. There is, however, a workaround if you have specified terms of payment for the customer or vendor.\u00a0 Though the\u00a0Calc. Pmt. Disc. on Cr. Memos<\/strong>\u00a0field is not intended for this, if you choose the check box on the\u00a0Payment Terms<\/strong>\u00a0page a default payment method will be added when you create a credit memo.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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To set up a payment method<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Business Central provides a few payment methods that businesses often use. You can, however, add as many as you need.<\/p>\n

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  1. Choose the search icon, enter Payment Methods<\/strong>, and then choose the related link.<\/li>\n
  2. Fill in the fields as necessary. Hover over a field to read a short description.<\/li>\n<\/ol>\n

    Optionally, add payment terms to your payment method.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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    To assign a payment method to a customer or vendor<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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    1. Choose the Search icon, enter Customer<\/strong>\u00a0or\u00a0Vendor<\/strong>, and then choose the related link.<\/li>
    2. In the Payment Method Code<\/strong>\u00a0field, choose the method to use by default for the customer or vendor.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      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. Examples of typical payment methods are\u00a0bank,\u00a0cash,\u00a0check, or\u00a0account. You can assign a payment method to customers and vendors so that the same method is always used on […]<\/p>\n","protected":false},"author":4,"featured_media":3049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-3048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-impax-blogs"],"aioseo_notices":[],"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Impax Blogger","author_link":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/author\/impax-blogger\/"},"rttpg_comment":5,"rttpg_category":"Blog<\/a>","rttpg_excerpt":"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. Examples of typical payment methods are\u00a0bank,\u00a0cash,\u00a0check, or\u00a0account. You can assign a payment method to customers and vendors so that the same method is always used on…","_links":{"self":[{"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/posts\/3048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/comments?post=3048"}],"version-history":[{"count":0,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/posts\/3048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/media?parent=3048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/categories?post=3048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/impaxafrica.com\/microsoft-solutions-partner-kenya\/wp-json\/wp\/v2\/tags?post=3048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}