---
title: "Mode of Payment\n"
space: "ERPNext"
url: "https://docs.frappe.io/erpnext/mode-of-payment"
updated: "2026-02-28"
---


**The Mode of Payment stores the medium through which payments are made or received.**

To access the Mode of Payment list, go to:
> Home > Accounting > Settings > Mode of Payment

## 1. How to create a Mode of Payment
1. Go to the Mode of Payment list and click on New.
1. Enter a name for the Mode of Payment.
1. Set a type whether Cash, Bank, or General. This is useful for knowing the mode of payment used in [Point Of Sale (PoS)](/erpnext/point-of-sale).
1. Set a default payment Account for all the companies.
1. Save.

 ![Mode of Payment](/files/mode-of-payment.png)

> **Tip**: Setting the default Account will this account fetched into [Payment Entries](/erpnext/payment-entry).

![Mode of Payment](/files/mode-of-payment-in-payment-entry.gif)

> **Note**: When making Payment Entries, the default bank account will be fetched in the following order if set:

> * Company form
> * Mode of Payment default account
> * Customer/Supplier default bank account
> * Select manually in Payment Entry

## 2. Related Topics
1. [Payment Entry](/erpnext/payment-entry)
1. [Payment Request](/erpnext/payment-request)