Difference between revisions of "1 Payments"
From TrueERP wiki
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Do you understand that the payments module within ERP will generally handle most of the common functions as required by cheques and deposits. | Do you understand that the payments module within ERP will generally handle most of the common functions as required by cheques and deposits. | ||
| − | The common means of payment by an individual include money | + | |
| + | The common means of payment by an individual include | ||
| + | *money | ||
| + | *check | ||
| + | *debit | ||
| + | *credit | ||
| + | *bank transfer | ||
| + | |||
| + | |||
| + | In trade such payments are frequently preceded by an invoice or result in a receipt. | ||
| + | However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements. | ||
There is a great video on payments which gives an overall implementation process for banking through cheques and deposits. | There is a great video on payments which gives an overall implementation process for banking through cheques and deposits. | ||
Revision as of 09:05, 15 October 2015
Payments
A payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The simplest and oldest form of payment is barter, the exchange of one good or service for another.
Have you watched the payments video?
Do you understand that the payments module within ERP will generally handle most of the common functions as required by cheques and deposits.
The common means of payment by an individual include
- money
- check
- debit
- credit
- bank transfer
In trade such payments are frequently preceded by an invoice or result in a receipt.
However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements.
There is a great video on payments which gives an overall implementation process for banking through cheques and deposits.
