Payment Categories: You can set what categories you want to accept payments for (eg textbooks, lessons, events, etc).
Payment Methods: Set what payment methods you accept (eg cash, bank transfers, PayPay, credit cards, etc).
Generate Payment Info For: This setting is for the batch invoice creation feature. You can specify who will be automatically included, allowing you to not include students who have quit (“archived students”). If you are using private students as well, you should include both “student” and “private student”.
Use Stripe: Details on Stripe API integration to be listed in the Set Up Stripe API page.