Payment by BACS
This is a Yes/No flag to indicate whether this account is being paid through BACS payments. When this flag is set to 'N' the other fields on this tab will be disabled.
BACS Account name
This is the customer's Bank Account name from which the BACS payments are going to be withdrawn.
BACS Sort code
This is the Sort code of the Bank from which the BACS payments are going to be withdrawn.
BACS Account Number
This is the Account Number within the Bank from which the BACS payments are going to be withdrawn.
BACS Account Type
There are specific Bank Accounts for BACS payments. The type of account is given to you when your customer agrees to make payments by BACS. Unless told otherwise by your Customer this is set to 1.
Consolidated payment
This check box if 
indicates that the BACS payments is a net value of invoices and credit notes selected for payment instead of two BACS entries one for invoices and one for credit notes.
