AP Default Vendor window
When you set up several vendors, there are often fields that have identical information that you would like to enter only once, instead of each time you enter a new vendor. Using the AP Default Vendor window, you can pre-define those repeating fields.
This window is similar to the
AP Vendors window. Any changes or additions you make in this window are used as the default settings in the
AP Vendors window.
Number
You can enter alphanumeric characters for this box to identify a vendor. Keep in mind that each vendor number must be unique.
AP Code
Enter an
AP Code or use the Lookup to select an existing code. AP Codes direct the posting of invoices, payments, and adjustments to the correct General Ledger accounts.
Co/Name
You can enter a default vendor company name using as many as 50 alphanumeric characters.
This name functions as a sort option for some Accounts Payable reports.
Created
This date is entered by the system automatically and is unavailable for the default vendor setup.
Status
You can enter a default status for new vendors in this box.
Prod Type
If many of your vendors provide the same types of products, you can save some time by entering the product type in this template window. You can always change the entry for an individual vendor who supplies a different product type.
Credit Limit
If you have a common credit limit with your vendors, enter it here.
GL Expense
If the invoices for many of your vendors are posted to the same
General Ledger expense account, you can enter that account number here. This account number will then automatically appear in the
GL Expense Account box when entering a bill for any vendors using this number.
Cost Center
This field will only appear if you have a Cost Center license. The Cost Center you enter here will default in the Cost Center field of the AP Enter Bills detail grid when you select this vendor. You will be able to edit it.
You can leave this field blank.
1099 Applicable
If most of your vendors will require 1099 forms, select this check box to set the default for new vendors. You can uncheck the check box for any vendors you create that won’t need 1099 forms.
Due Date Calculation Method
The Due Date Calculation Method boxes allow the system to automatically calculate early payment discounts and due dates for invoices from your vendors. When you enter information in these boxes, you are setting the default invoice and discount dates for your vendors; however, you can still edit these when you enter individual bills.
If most of your vendors use the same method, select the method in this template to establish it as the default for new vendors that are created. For more information about each option, see the
AP Vendors window.
If you want this calculation method to default to no discount, you can enter 0 in the Days boxes.
Discount
If you are using the default discount calculation method for early payments, you can enter a percentage here as the default for new vendors.
Related Topics
Published date: 12/03/2021