Understanding a Payment Type's Type

Payment Types records contain a field that explains the attributes of the payment type. This associated field is labeled Type and is referred to in this topic as the Payment Type type. The Payment Type types that Aptify ships with are as follows: Cash, Check, Credit Card, Credit Memo, Purchase Order, and Wire Transfer. These types are defined at the entity level, and organizations may add records to reflect additional types of payment types if needed. The Payment Type defines what information is needed for the specific payment type.

For example, an organization may have several Payment Types records in its system: Visa, MasterCard, and American Express. However, the Payment Type type is the same for all these records (Credit Card). All of the listed payment types require the same information to process the payment.