ERPNext Accounting
What is Mode of Payment?
- Mode of Payment
- Mode of Payment in ERPNext categorises how money moves (Cash, Bank Transfer, UPI, Cheque) and maps each mode to the correct accounting ledger.
Setting Up Modes of Payment
Go to Accounting → Mode of Payment → New. Enter the name (e.g., NEFT, Razorpay, Petty Cash) and set the Account (bank or cash ledger). Multiple modes can point to different bank accounts for the same company.
Usage in POS and Payments
Mode of Payment appears on Payment Entry and POS Profile. In Point of Sale, customers can split payment across Cash, Card, and UPI — each posting to the correct account. POS Closing Entry reconciles the day's collections per mode.
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