Payment Methods

A payment method records how money changed hands on a receipt or payment: by Cash, Bank Transfer, Cheque, Credit Card, and any others you add. It is a label you attach to money-in and money-out transactions so you can later group and report on them. The bookkeeper or accountant sets these up once, and everyone picks from the list while entering transactions.

A payment method is a reference label, not an account. It does not post to the ledger and does not decide where the money lands. The bank or cash account you choose on the transaction is what moves the money. The payment method sits alongside that account to describe the tender.

Where payment methods are used

You select a payment method when you record money moving in or out:

• Bank Receipt and Bank Payment
• Customer Receipt and Supplier Payment
• A customer refund, recorded with Apply Refund / Credits on an Invoice Credit

On all of these the payment method is required: the transaction will not save without one.

The POS screens do not use this list. They have their own fixed set of tenders (such as cash, card, and credit), so adding a payment method here does not add a tender at the till.

Defaults

Two defaults save you picking the method every time:

• Your own default. Under Settings → Defaults, set a Default Payment Method. This is a personal setting for your user, not for the whole business. It pre-fills the payment method on new Bank Receipts, Bank Payments, Customer Receipts, Supplier Payments, and customer refunds.
• A customer's or supplier's default. Set a Default Payment Method on a customer or supplier. On a Customer Receipt or Supplier Payment, choosing that customer or supplier replaces your own default with theirs.

You can change the pre-filled method before saving.

Before you start

ZyncLedger seeds four payment methods for every new business: Cash, Bank Transfer, Cheque, and Credit Card. For most businesses these are enough, and you only need this screen to add your own (for example, a mobile wallet) or to retire one you do not use.

Access is controlled by the Payment Methods permissions in your user's permission profile, under Administration → Permissions (see Users, seats & permissions). There are separate switches to list, create, edit, delete, and approve payment methods.

Create a payment method

1. Open the Payment Methods list

   Go to Lists → Payment Methods. The list shows every method with its Status (Active or Inactive, and Approved or Pending) and who created it.

2. Start a new method

   Select Add Payment Method. The Create New Payment Method panel opens from the right.

3. Enter the method name

   Type the Method Name (required), for example Cash or Mobile Wallet. Each name must be unique.

4. Set the status flags

   Two checkboxes control whether the method can be used:

   Field	What it does
   Active	On by default. An inactive method stays for history but is not offered on new transactions.
   Approved	Off by default. A method is only offered for selection on transactions once it is both Active and Approved. Ticking this needs the approve permission. Once a method is saved as approved, the box is locked and cannot be cleared.

5. Save

   Select Create Payment Method. The method appears in the list and, once approved, in the payment-method dropdown on every relevant transaction.

Import or export the list

If you have the create permission, the list also shows Import and Export. Export downloads the list as a CSV file. Import loads methods from a CSV file: you match its columns to Method Name, Active Status, and Approved Status, and choose whether to skip or update names that already exist.

Edit, deactivate, or delete

Select the edit icon on any row to rename a method or change its Active flag. To stop a method being used without losing its history on past transactions, clear its Active flag rather than deleting it.

Related

• Customers — set a default payment method per customer.
• Suppliers — set a default payment method per supplier.
• Customer Receipt — where you pick a method when receiving money.
• Supplier Payment — where you pick a method when paying out.
• Payment Terms — the companion list for credit terms and due dates.