> For the complete documentation index, see [llms.txt](https://docs.xorosoft.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xorosoft.com/xoroerp-1/admin/company/payment-method/creating-a-payment-method.md).
# Creating a Payment Method
Most of the payment methods are already added to the XoroERP. If your business requires a payment method not already included in Xoro, adding it is a straightforward process. For instance, you might have a payment method for Visa credit card, but you now wish to accommodate payments made with Mastercard, you can easily include the "MasterCard" payment method within Xoro.
Creating a payment method involves entering the name of the payment method and choosing the type of payment method.
{% hint style="info" %}
To create a Payment Method, go to **Menu > Admin > Company > Payment Methods > Payment Method**
{% endhint %}
#### Payment Method Fields
Field
Description
Name
This field allows you to give a name to the payment method.
Method Type
This field allows you to select the type for the payment method. Click here to learn more about the payment method types.
Once you have filled out the details, click "Save" to create the payment method.
After the payment method is created, you can select this payment method when making or receiving a payment.
#### Adding Fees and Discounts
In addition to creating a payment method, you can configure processing fees or discounts that are automatically applied whenever the payment method is used to make an invoice payment.
To configure charges:
1. Open the required **Payment Method**. Click **Options at the header level and select Manage Charges**.
2. In the **Add Charges** window, specify the following details:
* **Charge Type:** Select whether the charge should be applied as a Fee or a Discount.
* **Charge Value Type:** Select whether the charge is a Flat amount or a Percentage.
* **Charge Value:** Enter the fee or discount amount.
* **GL Account:** Select the General Ledger account to which the charge will be posted.
3. Click **Save** to apply the charge configuration.
4. Go to the **Invoice Payment** module and select the invoice to be paid. Choose the configured payment method in the **Payment Method** field and enter the **payment amount**.
5. The applicable processing **fee or discount** is automatically displayed in the **Charge Amount** column and is added to the corresponding invoice under the **Fees & Discounts** tab.
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