I've been using KMyMoney for close to a year. During that time I've yet to figure out the meaning of all entries found in the Payment Method drop-down list on the New or Edit Scheduled transaction page. There are seven items in that list;

1. Other
2. Write Cheque
3. Bank Transfer
4. Standing Order
5. Direct Debit
6. Manual Deposit
7. Direct Deposit

I'm attempting to set up a Scheduled Payment that occurs automatically on the eighth of each month. It's a preauthorized payment from a Chequing account to a Credit Card. Since both accounts exist in the KMyMoney file, particulars have been entered under the Transfer tab. The Account field is set to reflect the chequing account the payment will be drawn from. The Transfer to field is set to reflect credit card account that's being paid. The Next due date has been set to February 8, 2016. The amount differs from month to month so $1.00 has been entered in the Amount field as a place holder. I've ticked the check-boxes next to The amount is an estimate because it varies for each payment and Enter this schedule into the register automatically when it is due. The Options, Change the date to the next processing day, has also been set. What I can't figure out is what to set the Payment Method to.

There are obvious omissions that may be made from the listing of items;

1. Write Cheque
2. Manual Deposit
3. Direct Deposit

If my understanding of Direct Debit is correct, it to may be removed from the list. The use of Other can also be ruled out. It's to non-descriptive for my use. That leaves;

1. Bank Transfer
2. Standing Order

So here is my dilemma! What's the difference between Bank Transfer and Standing Order and which should I use? A Bank Transfer seems somewhat self explanatory - a transfer of funds between accounts. The question being, does this represent a transfer of funds between accounts held at the same banking organization or can the organizations be different? For what it's worth, the above noted accounts are held with two different organizations. As for Standing Order, I'm completely lost here. What is a Standing order and when should it be used?

A direct debit - where you authorise a third party to debit your bank account - can be a variable amount - seems most likely payment method. That's how my credit card is paid.

Bank transfer is when you log into your online banking and transfer a specific sum of money to another bank account - can be a third party.

Standing order is when you set up a transfer of a specific sum of money to be automatically transferred from your bank account at specific dates and intervals to another bank account - can be third party.

HTH

Unfortunately, the payment methods are fixed.

rblackwell wrote:It's a preauthorized payment from a Chequing account to a Credit Card. ... If my understanding of Direct Debit is correct, it to may be removed from the list.

Maybe your understanding is wrong. An automated bank transfer from a chequing account to a credit card account is a 'direct debit'!
See also example in KMM manual ch. 9.3

rblackwell wrote:The amount differs from month to month so $1.00 has been entered in the Amount field as a place holder. I've ticked the check-boxes next to The amount is an estimate because it varies for each payment and Enter this schedule into the register automatically when it is due.

The handling differs depending on the clearing method.
First of all you should set the amount to an average or expected amount for best forwarding results.

If you use automated clearing by import you should correct the amount in the schedule before the import to get best results for matching.

If you use manually clearing you should uncheck the 'automatically entering' flag.
When the transaction is due or you receive a statement from your bank you should manually enter the scheduled transaction and correct the amount here.

See also KMM manual ch. 9.8 and 10.8f

izento wrote:

rblackwell wrote:It's a preauthorized payment from a Chequing account to a Credit Card. ... If my understanding of Direct Debit is correct, it to may be removed from the list.

Maybe your understanding is wrong. An automated bank transfer from a chequing account to a credit card account is a 'direct debit'!
See also example in KMM manual ch. 9.3

rblackwell wrote:The amount differs from month to month so $1.00 has been entered in the Amount field as a place holder. I've ticked the check-boxes next to The amount is an estimate because it varies for each payment and Enter this schedule into the register automatically when it is due.

The handling differs depending on the clearing method.
First of all you should set the amount to an average or expected amount for best forwarding results.

If you use automated clearing by import you should correct the amount in the schedule before the import to get best results for matching.

If you use manually clearing you should uncheck the 'automatically entering' flag.
When the transaction is due or you receive a statement from your bank you should manually enter the scheduled transaction and correct the amount here.

See also KMM manual ch. 9.8 and 10.8f

Very helpful. I've made a few changes based on your comments. Thank you.