What's the difference between payment class and payment method?

Some payment methods can be set up to be used by members, or by administrators placing orders on a member's behalf. 

When we report on a payment method, we distinguish between the two, e.g. Bank Transfer (members) and Bank Transfer (admins).

However, often administrators want a summary for e.g. all Bank Transfer orders, without distinguishing between whether a member or an administrator placed the order.  That's where Payment Class comes in. Set out below is a list of the Payment Classes, together with the payment methods that are included in each Payment Class: