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Remittance Coalition×Volume 2×2016Table of Contents Introduction ............................................................................................................................................................................
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Payment types explained refer to the different methods of payment that can be used for transactions.
Any individual or organization that receives payment for goods or services is required to file payment types explained.
Payment types explained can be filled out by providing details of the payment method used, such as cash, check, credit card, or electronic transfer.
The purpose of payment types explained is to track and record the different methods of payment used in transactions.
On payment types explained, one must report the amount of payment, the date of payment, and the type of payment method used.
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