Payment methods in SAP Business One is a collection of parameters that determine how invoices are processed using the Payment wizards be balanced. The aim is to automate payment transactions efficiently.
Features and functions
- Definitions: Payment methods contain the payment method code, a description, the Payment method (incoming or outgoing) and the payment method (e.g. cheque, bank transfer, bill of exchange).
- Payment methodsCredit cards and cash are not included in payment methods, but can be configured for manual payments.
- Currency selection: The "Currency selection" window can be used to define specific currencies for the payment method.
the Versino Financial Suite adds additional automation and validations such as IBAN creation and UID verification, which makes the payment process more secure and efficient.
Setting up a payment method
- AllocationPayment methods can be defined individually for customers and suppliers.
- integrationBank details must be stored in the business partner master data.
- payment assistantThe default payment method is defined when setting up the payment wizard to enable batch payments for cheques and transfers.
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