Payment types are used to describe the source of an income item. Examples are check/cheque, cash, Visa, PayPal, etc.
There are several built-in payment types and you can define an unlimited number of your own.
Payment Types can be accessed by going Setup --> Receivables and clicking on the submenu Payment Types.
To add a new Payment Type click +Add New Payment Type and fill out the payment type details as needed. The Payment type will have a three character code, description, and can have default Vendors, Expense line and Bank.
Payment Types, once they are set up and Active, will be available as a source when adding a Donation, Payment or Income to a family's account page, the Transactions (GL) page.
Payment Types will also be available to report by and classified in your Bank Reconciliation.
