Payment method (SAP Business One)

There are four payment methods available in SAP Business One for incoming and outgoing payments: cheque, bank transfer, credit card and cash. Each payment method has its own tab in the "Payment methods" window. The payment method for outgoing invoices is defined either via the "Payment methods" button in the toolbar or next to the "Total amount due" field.

The most common payment methods are bank transfer and cash payment. For bank transfers, the bank account, transfer date and reference must be specified. For cash payments, the corresponding G/L account is automatically taken from the Account determination proposed. Payments on account are set up by ticking the "Payment on account" checkbox and entering the amount. The payment method is then defined as usual. Bank charges can be entered in the "Bank charge" field for manual payments and posted to a bank charge account defined in G/L account determination.

The payment assistant provides support for supplier payments and the collection of customer receivables. To use it, payment methods must be created and assigned to business partners and bank details and terms of payment can be stored. In the wizard you can Payment methoddefine the payment method and other parameters. The recommendation report shows suggested payments, which can also be added to manually. Finally, the processing method for the payment results is selected.

the Versino Financial Suite extends the payment methods in SAP Business One with additional automation and convenience: it enables payment advice notes to be created and sent automatically after each payment run. Furthermore, processes such as IBAN generation, UID validation and netting (automatic offsetting of receivables and payables) are integrated, making bank data and payment processing more secure and efficient.