Payment methods

A payment method tells the debtor where to pay and tells you how a payment arrived. Collection keeps its own list of methods, apart from any accounting. The demo has two: Bank transfer, to Harbor National Bank, and Cash.

Before you start

• Creating or changing a method needs the User access right on Collection or above; Readonly only reads the list.
• Each method belongs to one company; in a database with several companies, the Company field says which.

Create a method

1. Open Collection/Configuration/Payment Methods. The list shows each method's Name, Type, Account Owner, Bank Name and IBAN.

2. Click New and type the Name, as the debtor will read it. The name can be translated: each language keeps its own wording.
3. Choose the Type: Bank Transfer or Cash. Bank Name and IBAN appear for a bank transfer only.
4. In Account Owner, choose the contact who holds the account.
5. Save.

A bank method shows as its name followed by its bank everywhere it is picked, such as "Bank transfer - Harbor National Bank".

Agree the methods on a contract

The contract's Payment Methods field lists the methods the debtor may use (Create a collection contract). From there:

• Create Installments fills each new installment with the contract's methods. Each installment keeps its own Payment Methods, which you can change one by one.
• Changing the contract's methods later replaces them on all its installments, paid ones included.
• A payment can only use one of the contract's methods, or any method of the company when the contract names none. Register Payment started from an installment picks its method when the installment has exactly one (Register a payment).

What the debtor sees

The due-date reminder to the debtor lists the installment's methods, or the contract's when the installment has none:

• a bank transfer with its bank name, its IBAN and its account holder;
• cash with its name only.

Without any method, the reminder asks the debtor to get in touch about how to pay. The PDF receipt of a payment names the method used. Reminders are set in Installments and reminders.

Follow the payments by method

In Collection/Installments/Payments, search by Payment Method or group the payments by it to see what arrived through each account.

FAQ

Can I hide a method I no longer use?

There is no archive. Remove it from the contracts that should no longer offer it. Deleting it also takes it off every contract, installment and payment that named it.

Why can't I pick a method when I register a payment?

The contract names other methods. Add this one to the contract's Payment Methods first.

Do methods take money online?

No. A method is information for the debtor and for your follow-up; the money arrives outside the app, and you record it as a payment with its proof.