The Sales Payment Types Payment Type setting defines the manner in which the payment is handled (as cash, like a credit card, for store credit, etc.).
Most of the time, "Payment Type" refers to a method of tendering (payment) that may be created, modified, and is displayed on the Sales (and Purchases) Payment Types list.
However, when referring to the Payment Type field on the Payment Types Settings screen, it refers to the 7 Categories of Payments into which all Payment Types fit and may be thought of as the "Payment Type - Type".
The 7 Types are:
Cash - Any kind of payment that is redeemable in cash. If it can be taken to the bank, it is a Cash Type which includes actual cash and checks, and may also include credit cards and debit cards unless it is desired to isolate those in the separate Payment Card Type for subtotaling purposes.
Foreign currency is also a Cash Type. Special Payment Types may be created to convert the total price of the sale to a foreign currency. To calculate the conversion rate, the text in the Sales Payment's Name field is followed by the @ sign which is followed by the conversion factor. The conversion factor is the number of dollars it takes to equal one unit of the foreign currency. If it takes one and one-half dollar to equal a British Pound, the Payment Name should end with @1.5. For example: UK Pound@1.5. When a $10.00 sale is tendered, 6.67 British Pounds are needed. If it takes one US Cent to equal one Ruritanian Drongo, the Payment Name should end with @.01. For example: Drongo@.01. When a $10.00 sale is tendered, 1000.00 Drongos are needed. Note: The conversion factor is used only when asking for a Payment Tendered, when viewing a Payment Tendered in Transaction Edit/View/Print mode, and when displaying and reporting Closeout amounts. Keystroke uses dollar amounts in all other places throughout the system, including the Amount Paid on receipts.
Payment Card (Credit/Debit Card) - The Payment Card Type is equivalent to the Cash and Other payment types. It is typically used to separate credit/debit cards from cash & checks for sub-totaling in the Closeout Module, Report Manager, and is used in the Accounting Link Module.
Gift Card - The Gift Card Type is equivalent to the original Cash and Other payment types. It is typically used to separate gift cards from cash, checks, and credit/debit cards for sub-totaling in the Closeout Module, Report Manager, and is used in the Accounting Link Module.
Other - Payments that aren't bankable Cash, or Store Credit, or included as money owed in Accounts Receivable. It is subtotaled separately on Closeouts and Reports. Examples:
AR Adjustments - Miscellaneous adjustments to Accounts Receivable (for example, to write off an uncollectable debt).
Barter Scrip - Scrip issued by a barter organization. Is redeemable (in goods or services), but not bankable. If a cash value can be assigned to it, an exchange rate may be set up. Barter Scrip exchange rate is set up identically to the the way the foreign currency conversion described above is set up.
Store Credit - The Store Credit Type is used to apply a Store Credit amount to sales transaction returns to give customers a balance (that is not included in Accounts Receivable) which can then be used on future sales. Sales Payments with the Type set to Store Credit should also have the Change Back option set to None (No Overpay) and if it is not, a warning message is displayed and the None (No Overpay) option is automatically selected. The Store Credit balance is displayed just above the OK button on the Enter Customer screen and also on the Item Entry screen in the lower right corner under the transaction entry totals. Store credit balances (current & previous) may be printed on sales transaction receipts. To disable the use of Store Credits, simply remove or disable the Store Credit sales payment type. To edit Store Credit balances see Edit Store Credits.
Note: Store Credit balance data is stored in the file "KSCredit.dat".
Credit (AR) - Payments On Account going to Accounts Receivables. This includes credit (not including Store Credit) issued by the store itself. If it cannot be taken to the bank because it has not yet been collected, it is a Credit (AR) Type. Credit (AR) payments are listed in Accounts Receivable.
Card On File (available only with Keystroke Advanced licenses) - For Credit/Debit Cards saved by the Cayan Vault or by EVO/Heartland. The "Active" processor for saving new Card On File cards for a customer is determined by the first Payment on the list of Sales Payments that has its Payment Type option set to Card On File. The processor used by that payment is determined by its Authorization Method. For "Cayan/TSYS/Global" the Auth Method should be "None" while the PIN Pad is set to Genius. For any other processor that supports Card On File, the Authorization Method should be set to a file that uses that processor.
There is a Security Levels button on the Sales Payment set up screen for Card On File. Clerks that do not meet the security levels for Add New Payment and Edit Payment (the Clerk's security # is higher) can only view the Card On File information (Card Type, Last 4 Digits, and Expiration Date) and are not allowed to make changes to the Card On File currently stored by the processor. Any clerk may view the Card On File information by using the Card On File screen flag displayed on the bottom of the screen when the viewing either the Enter Customer screen or the Complete Sale screen. Pressing Ctrl+F7 on these screens also displays the Card On File information. Note: Pressing Ctrl+F7 on the Line Item entry screen displays Gift Card Triggers.
See:
Sales Payment Types - Settings
Configuration Manager Contents