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How to create a payment method for just accounting purpose not for actual payment?

in Payables, Payments & Cash Management 1 comment

Summary:

Hi,
We have a business requirement to create two payment methods: LC (Letter of Credit) and Wire.
These payment methods are required strictly for accounting and reporting purposes. The actual payments are already made directly through the bank outside the system, and we do not want the system to trigger or process any electronic bank payments.

The business requirement is to:
1. Record the payment in the system
2. Associate the relevant payment method (LC or Wire) with the invoices
3. Process the payment manually for accounting purposes only

Could you please advise how to configure these payment methods in the system?

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