How Do You Understand Payment Method Resource?
Explanation: The first designation of payment method is the type. If you are making the payment, you are paying your Vendor, therefore, the type is ‘Vendor’.
If you are receiving a payment from your customer, the type will be ‘Customer’. You will then designate a particular General Ledger associated with each payment method.
Customer type indicates the payment methods that will be available when processing your customer’s payment on their invoices. It is strongly recommended that payment methods be setup with unique, identifying descriptions for each type of credit card payment accepted from your customers. (be sure to click “Credit Card”).
Vendor type gives the ability to reference whether this payment requires a printed check or if this is an e-payment. If “Check” is not indicated, Bill Pay will automatically default to “Handwritten Check”.