What is Payment Accounts in Look POS?

Payment accounts are like for example bank account. You can transfer money from one payment account to another, deposit cash in payment account, pay to a supplier or deposit the amount received from a customer here.

Enabling Payment Account

1.  Go to Settings ->Business Settings -> Modules
2.  Enable payment ‘Accounts’ option
3.  Save it.
4.  After saving you will see the “Payment accounts” option will be visible in left navigiation bar.

Payment Account Type & Sub-Type

1.  Go to Payment accounts -> List accounts -> Account Types
2.  Account type: to add a account type click on Add button and enter the name of account type and submit. Keep the Parent account type unselected.
3.  Sub-Account type: To add a sub-account type click on Add button, enter the name of sub-account type and select the Parent-account-type.
4.  When creating account you can select the account type as per your need.

In Add/Edit business location you can select the default payment account for each payment method.

If the payment account is linked then when adding a payment for sales/purchase/expense, on selecting the payment method the payment account will be automatically selected.

Editing Custom Payments Labels

a.  By default, the custom payment labels display as “Custom Payment 1” and similar.
b.  Go to Settings -> Business Settings -> Custom Label -> Labels for custom payments:
c.  Change ‘Custom Payment 1’ or the others to something you need.

For example: if we want the labels of custom payment 1 to display as “RazorPay” then it will be like this: ‘custom_payment_1’ => ‘RazorPay’,