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Methods of payment


Methods of payment are used to define all the ways in which a company receives payment from customers. Methods of payment are shared between the purchase ledger and sales ledger, so a single central list will exist in Dynamics 365.
Within a method of payment, information such as the type of payment, summation periods for payment proposals, and electronic payment file formats are stored.

The key information definable in the survey is explained below


The method by which invoices are summed in the automatic payment proposal period. This is generally applicable to purchase ledger processes for supplier payments, rather than customer payments.

Invoice: Create one payment transfer for each invoice; this is the default value for this field.

Date: Combine all invoices that have the same due date.

Week: Combine all invoices that have a due date in the same week.

Total: Combine all invoices for a customer in the same payment.

Payment type

The type of payment that is associated with the method of payment.

Bill of exchange: The method of payment is a bill of exchange.

Cheque: The method of payment is a cheque.

Credit card: The method of payment is a credit card.

Electronic payment: The method of payment is electronic, such as electronic funds transfer (EFT); when this payment type is used, bank validations are performed that are otherwise skipped if you use other payment types.

Other: The method of payment is not one of the other choices, or is not yet assigned; this is the default value.