Payment Type

Payment type specifies the way a user can pay the amount, such as Cash, NEFT, Credit Card, etc., It also allows the user to add the new payment types in the below way,

Go to Admin ->> Organisation ->> Payment Type.

Payment Type
In the Payment Type form, it will display the list of existing payment types in CloudBankIn.
Payment Type - List & Add Payment Type

User can add the New Payment Type by clicking on + Add Payment Type.

In the Create Payment Type form add the necessary details and submit.

Create Payment Type

Fields & Description

  • Payment Type – Specify the new payment type you want to add ( For eg. Payment Type is Cash)
  • Description – Enter the description of the payment type
  • Is cash Payment? – Check this box if the payment type is Cash
  • Position (*) – Specify the position number of the payment type to display in the Payment Type form
Now it will display the newly added payment type in the list.
New Payment Type
If the user wants to do any changes or delete a payment type they can choose the Edit or Delete option.
Payment Type Edit or Delete

It will display the Payment Type Option that we’ve recently added. For Example, in the Accounting Module it displays the new payment option as shown below,

Payment Type Options

In the Fund Source you should select the source for the payment. 

The system will also allows the user to add new fund sources. Go to Accounting ->> Chart of Accounting ->> Add Account.

Chart of Accounts
Payment Type - Add Account
Payment Type - Account Entry

In the Create GL Account form update the details as you want and submit.

Fields & Description

  • Account Type – Select the account type from the drop down ( For eg, Asset)
  • Parent – Select the account type from the drop down ( e.g. Asset)
  • GL Code – Specify the GL code and it should be a unique value
  • Account name(*) – Specify the account name you want to add in the Fund Source (e.g, XYZ Bank)
  • Account Usage – Select the value from the drop down. By default it will be Detail
  • Manual Entries Allowed – Check the box if you allow the manual entries
  • Description – Specify the description of the Account Name you are adding.
Now in the Accounting module, it displays the account name which we have added under Fund Source.
Payment Type Newly Added

Now the user can create an accounting rule against the payment types.