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Preferences

Do you know how to access the preferences that control Payments?

What does Preference mean? A Preference is a favorite or favored choice. (And in this case of preset selections - most of which won't need to be changed).

Payment Preferences change the way the system treats all of the following

Default Payment Accounts Once set, these should rarely change Customer - Default is Undeposited Funds. This means that by default, when a customer payment is received the money will go to Undeposited Funds Supplier - Default is Bank. Payments to a supplier will post to the Bank account Credit Card - Default is Bank. Payments made by your credit card will post to the account Bank. This obviously will only be true for a debit card so you need to set up an account for your credit card and select it here. The Payment Account can be modified on individual transactions regardless of the choices made here.

Default Payment Variation Accounts Set here the default variation accounts for payments for each of Customers and Suppliers. These accounts are used to post payment differences arising from foreign currency fluctuations. These should only be changed on your accountants advice.

Statement Messages Set here different messages to appear on customer statements depending on the current or overdue status of the account. A maximum of 8 different messages can be set.

The message that will automatically appear on a statement is based on the invoice that is outstanding for the longest period.

General

Group POS Deposits (Cash Sales) - If using POS this selection will group all cash receipts into a single Deposit Auto Select Deposits - Select if you wish to speed up deposits by entering the total and letting ERP match the deposit lines automatically Auto Cheque Numbers - Select to allow ERP to automatically select the next cheque number. The cheque number can be manually overridden Cheque and Payments add to EFT by default - Select if you make the majority of payments by EFT. Selection can be overridden on individual transactions Accounts Receivable - Group Jobs with Customer - If using Jobs, this selection will group jobs with the appropriate customer on your accounts receivable report

Deposit Account Select here the default account to appear on deposits - can be overridden on individual transactions

Cheque Account Select here the default account to appear on cheques - can be overridden on individual transactions