On the ribbon, go to Tools > Setups > Banking > Payment Type.
This screen allows you to set up your different payment types available for debtors, creditors and cheque book entries. These payment types have five very important fields (along the top):
1.Reconcile Separately relates to what happens when you bank these types of payments. Do you want them to show in the bank reconciliation screen as individual payment entries or as one entry which is the total of multiple payments?
2.The Debtors and Creditors tick boxes relate to whether a particular payment type is available for a debtor and/or creditor payment – extremely useful for direct deposit versus direct debit.
3.Allow Negatives – any payment type that you will refund from unbanked funds, eg. cash or EFTPOS, should be ticked to Allow Negatives. For example, in the case of cash being refunded from the Till, the refund will show as a negative amount in bank deposits. You can then include the negative amount in your banking session so that the banking in Jim2 agrees with what you physically banked.
Click on Cash, then click Edit a the bottom of the screen.
Tick Allow Negatives, then click Save.
4.Electronic Payments – you can export all payments for the day in a standard ABA file that is made using the electronic payments method – no more typos.
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You should never have Allow Negatives against payment types where the transaction is directly against a bank account, eg. cheque, EFT (direct deposit), electronic banking, as you would not usually include these in the Till Reconciliation or Banking Session. |
5.EFTPOS – allow EFTPOS payments
6.Open Till – triggers the opening of the Till.
Payment types need only be set up to show the following:
Field |
Explanation |
|---|---|
Description |
Payment description: cash, cheque, etc. |
Reconcile Separately |
Show all entries individually rather than one entry for multiple payments. |
Debtors |
Is this payment type available for use in debtors? |
Creditors |
Is this payment type available for use in creditors? |
Allow negatives |
This payment type can be refunded from unbanked funds, ie. Tills. |
Electronic Payments |
Tick this if you are going to use the electronic payments function in banking. |
Eftpos |
Allow payment by EFTPOS. |
OpenTill |
This is required for the Till to be opened. The Open Till command requires your username followed by a space and then your password, ie sys sys. |
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Allow Negatives allows you to flag individual payment types as refundable from unbanked funds. Be careful here to only flag those payment types that your retail staff can use for refunds. For detailed instructions on using electronic payments, refer to the section in the banking area on Electronic Payments. |
Further information: