Payment Method

Payment Method

Payment Method in CustomBooks™

A Payment Method refers to the type of transaction or instrument used to settle financial obligations, such as paying a bill, invoice, or receiving payments from customers. It specifies how the payment is made, whether through cash, electronic transfers, credit cards, or other forms of payment.

Default Payment Methods in CustomBooks™

CustomBooks™ comes with default Payment Methods, including:

  • American Express
  • Cash
  • Check
  • Credit/Debit Card
  • Discover
  • MasterCard
  • PayPal
  • Visa


Viewing Payment Methods

To view the list of Payment Methods:

  1. Navigate to Lists > Payment Methods.


Creating a Payment Method

To add a new Payment Method:

  1. Navigate to Lists > Payment Methods.
  2. Click Create > New.
  3. Enter the Payment Method Description.
  4. Optionally, check the "Exclude from 1099" box to exclude the payment method from 1099 reporting.
  5. Click Save or Save and Close.



    You can also create a Payment Method on the fly by clicking the green plus icon in the Payment Method dropdown field.



Watch the short video below showing how you can create Payment Methods in CustomBooks™.



Deactivating a Payment Method

To deactivate a Payment Method:

  1. Navigate to Lists > Payment Methods.
  2. Open the Payment Method you wish to deactivate.
  3. Check the Inactive box.
  4. Click Save or Save and Close.



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