Payment Methods Tab

Payment methods are used for closing fees and mortgage payments as well as for donations. Use this pane to define the default payment method options that appear in the Payment Method drop-down lists for these types of payments.

Type field - The payment method type can be set to F, D, or B to indicate whether a method is used by (F)amily Partners, (D)onors, or (B)oth.
NP check box - NP stands for non-posting. If you use Keystone to post payments directly to QuickBooks Pro, some of your financial transactions will be non-posting transactions.

For example, a BTD (Balance To Date) transaction used to set up a new mortgage is a non-posting transaction.

If you forget what NP stands for, hover the cursor over one of the NP fields and Keystone will remind you.
Abbr field - The abbreviation codes for the payments methods are stored in this field.
Description field - This field contains the longer name for the corresponding abbreviation for that payment method.

There are a number of predefined payment methods that come with Keystone.

Abbr	Description	Pmt Type	Non-Posting?	Required?
ADJ	Adjustment	B
BTD	Balance To Date	F	Y
CC	Credit Card	D
CK	Check	B		Y
CSH	Cash	B		Y
EFT	Electronic Funds Transfer	B		Y
INK	In-Kind	D	Y	Y
MO	Money Order	F		Y
NSF	Non-sufficient Funds	B	Y	Y
OTH	Other	B
RFN	Refund	F	Y	Y
UNK	Unknown	B		Y
XFR	Transfer	B	Y	Y

To add new payment methods

Review the existing payment methods before adding new ones.

Go to the new record line at the end of the list.
Enter the new payment method Type.

The payment method type can be set to F, D, or B to indicate whether a method is used by (F)amily Partners, (D)onors, or (B)oth.
If this new type is non-posting payment method, check the NP check box.

Check this box if you do not want payments with this type to post to QuickBooks.
Enter an abbreviation for the payment method in the Abbr field.

You cannot use any of the abbreviations listed in the table above.
Enter a description for the payment method in the Description field.

You can also edit existing payment methods as needed. Note, however, that the payment methods CK, MO, CSH, EFT, UNK, XFR, NSF, RFN, INK are used by Keystone and cannot be modified or deleted.

To set default payment

You can set which payment methods you wish to be the defaults for payments entered for Family Partners and Donors.

Select the payment method you wish to be the default for all family partner payments from the Family Partner Default drop-down list.

Only payment methods with a Type of F (for Family Partner) or B (for Both) will appear in this list. You can choose a different payment method as needed when recording individual family partner payments.
Select the payment method you wish to be the default for all donor donations from the Donor Default drop-down list.

Only payment methods with a Type of D (for Donor) or B (for Both) will appear in this list. You can choose a different payment method as needed when recording individual donations.