Pay Methods (Vendor Defaults)

To set up the payment methods you use to pay your bills, select the Pay Methods tab in the Vendor Defaults window.

Note: Using payment methods is important if you pay 1099 vendors. That's because you may need to specify which payments should be included in 1099 calculations in Sage 50 based on payment method. Tell me more about this.

You can enter up to 20 ways that you pay your vendors. The payment methods you enter here can be selected on payments entered on the Payments, Write Checks, and Purchases/Receive Inventory screens.
Some are already set up for you: Cash, Check, AMEX, Discover, MasterCard, VISA, PayPal, and Electronic.
You can change these payment methods to suit your business needs.

Tell me more about these payment methods and how to set them up.