Also, would a permission to be given for a user, to overriding his POS solve the issue?

Yes, that is my vote.   I've never understood the FA design why a user is limited to a single POS, or why a POS is tied to a single payment type (bank account).

Any modifications to the code in the current scripts without altering db schema will entail hardcoding for a specific install with account names / types and ids and that will not be generic. Both Cash and Credit Card are of Cash Type as far as the Payment Terms classification is concerned and that is why the simplified entry form gets displayed. If English is the only language to be used, then hardcoding to see if the word "Cash" is present in the name of the description of the Payment Terms can be attempted. The ramifications of the default POS being different from the one in the user's table will have to be studied. There could be several credit card merchant accounts in one installation where this would fail. Appending the account code to the last part of the Payment Terms description is the only way out for now.

@joe: what say you?

following this thread, I totally understand the concern @apmuthu has related the POS-User, I was wondering if there is any response from @Joe?
Also, would a permission to be given for a user, to overriding his POS solve the issue?

@joe: what say you?

Will any of the solutions I mentioned above work?

So, a better solution can either of the following:

1. Ask the developer to change the hardcoded account if the payment term is selected anything other than "Cash". Because anything other than cash is booked as receivable.

2. Create Credit Card Clearing account and declare it as a current account. Then make it the default receivable account from SETUP ==> System & GL Setup. Then create a new payment term as Credit Card and create a new Payment Term, call it credit card, select number of days and then 1. So that such sale automatically goes into credit card receivables account and is shown in receivables the very next day.

I apologize for taking a lot of time, but I am keen to understand the system in order to make the best use of it.

        label_row(_("Cash account:"), $order->pos['bank_account_name']);

is responsible for the choice of account. It comes from the field sales_pos.pos_account which is looked up on the field bank_accounts.id whose corresponding field bank_accounts.account_code is the account to which the money flows. The field bank_accounts.bank_account_name is what gets displayed.

The POS is fixed in the users table and hence it this that ultimately determines the hardcoded value of the cash account! Hence, create a user and assign the Credit Card POS and link it to the Credit Card Cash Type account and login as that user to perform such transactions.

So, how can we set a default (hardcoded account) to receive payments into based on Payment Terms?

I am a professional accountant

I already tried the method explained by you as I had read through a lot of posts. But unfortunately the default cash account gets hardcoded in Payment and I cannot apply payment to this newly created account.

Any way to bypass this hardcoding?

@apmuthu, I guess you have explained it all.

Normally if you accept credit cards you have got an agreement with a provider or a bank. So the money enter into an account in your bank.

There will probably be a little delay,, but it could be an intermediate account, depending on how detailed you want this.

Also talk to a local accountant about this.

Joe