In this procedure, you will set default preferences for those options used when entering invoices. When you enter an invoice for this vendor, the options will default to your selections here.
- Create or edit an existing Vendor as described in Create and edit vendors.
- At the bottom of the Vendor page, click the General tab.
- Click Edit.
- Review or set a default for the following options. Note that most of these options are driven by codes.
For example, Terms of 1 % 10 Days is represented by the code 12.
When you click the magnifying glass, you will see a list of codes along with their labels. To select an item from the list, click the code link. The code appears in the box, and the explanation of the code appears beside it, as pictured above.
- Set options that impact your AP Terms:
- In Pay on Day, choose the day on which the vendor expects payment.
- If you are using prox terms, then in the Cutoff Day box, type the end date in the billing cycle. When applicable, this date overrides the prox discount date.
- In the Terms box, click and choose the payment terms you have agreed with this vendor.
See Also: Set up vendor accounts payable terms
- Set options that help identify this vendor:
- (optional) In the Keyword box, type another term to help identify this vendor in searches. For example, if the vendor changed names, you can type the old name here so you can find the vendor based on the old or new name.
- Type the vendor's Tax ID Number.
- In Our Number with Vendor, type the account number that you want printed on checks cut to pay this vendor. If you don't want to include an account number on checks, leave it blank.
- In the Remit to Vendor # box, type the vendor number to which you will make payment, if not the selected vendor.
- Choose accounting options:
- If you would like to combine large remittances on a single check stub, select the Disable Multiple Check Stubs check box. When a check is paying more than 10 A/P invoices, the stub will print the total number of paid invoices, rather than listing each invoice number on multiple pages of check forms.
- Choose the Currency Code of the vendor. All invoices and payments will convert to the same currency. To set up Currency Codes and see how they are applied, see Add currency codes.
- In the Expense G/L box, type the General Ledger Expense account number for purchases from this vendor.
Click Add G/L Distribution and specify as many additional expense G/Ls as you want. These accounts will be available on the AP Invoice Entry page for distributing balances accurately.
- In the Liability G/L box, type the default General Ledger account when entering an invoice for the vendor. Typically, this value is set to an Accounts Payable account.
- Choose User options:
- If a higher level user access is required to view or edit this vendor, select the High Access Level Required check box. High Level access is configured in the user master. See Manage users.
- To filters forecast results so each purchaser sees only his own vendors, drop down the Buyers list and select the check boxes beside each purchasing agents responsible for this vendors. You can also type user initials separated by commas.
- Click Save.