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AR Payment Mode

Warren Hamilton
Warren Hamilton
  • Updated

Set up list of payment modes available when performing a receipt transaction. (Cash, Credit Card, Check, etc.) Each payment mode comes with a set of configurations that will automatically prompt users for relevant references and details when entering the collection transaction record. The object drives the reconciliation process and can make an automatic posting to the General Ledger if required.

 

 

Navigation

1. From the homepage, go to Finance module.

2. Navigate to the Accounts Receivable and select AR Payment Mode.

 

Guide

1. Click the Create New button.

2. Set up the following:

  • Payment Mode Number
  • Payment Mode Name
  • Show in Collection
  • Show in Mass Collection
  • Special Mode: Cash or Cheque
  • Requires:
    • Bank reconciliation
    • Reference number input from user
    • Transaction Date input from user

3. Once done, click the Save and Close button.

 

Notes:

  • Active status - An AR Payment Mode that is not in "Active" status cannot be used in any future Collection from Customer records (over-the-counter or backend process) until it is activated. 
  • Show in collection - To indicate if an "AR Payment Mode" is available for selection in "Collection from Customer" (e.g. some Payment Modes such as AXS can only be selected by a backend process. An "AR Payment Mode" that is not listed in Collection from Customer is usually meant for a backend process, e.g. integration with AXS, GIRO, etc.). 
  • Special Modes - Special handling of Payment Mode indicated as Cash, Cheque or required Bank Reconciliation.
    • If Cheque or Bank Reconciliation is checked, the System shall not allow multiple payment modes to be selected (i.e. 1 payment mode only) in a single receipt transaction.
    • For any Collection from Customer transaction with a payment mode that requires bank reconciliation, the system shall route the record to an interim “Pending Bank Reconciliation” clearing status instead of directly in “Committed” status.
    • To update the record status to “Committed” users are required to confirm the date the collection transaction clears the bank account.
  1.  
  • Required References - Configure references required for each payment mode created.

 

 

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