AP Vendors window
Accounts Payable uses vendor numbers to identify vendor accounts as well as filter and sort reports. After you establish vendors, you can use the vendor number to look them up.
Number
Enter a unique number to identify this vendor. You can enter as many as 50 alphanumeric digits. You must enter information in this field before you can save a new vendor. This number will be used to distinguish this vendor from other vendors in Lookups and reports and during transaction entry.
You can also use the Lookup in this field to open an existing account so you can edit or delete it.
AP Code
Enter an
AP Code or use the Lookup to select an existing code. This field requires a code before you can save a vendor. AP Codes direct the posting of invoices, payments, and adjustments to the correct
General Ledger accounts.
Co/Name
Enter the vendor's company name. You can enter as many as 50 alphanumeric characters. This name functions as a sort option for some Accounts Payable reports.
You must have information in this field to use the
Add From AP option to create Payee Card Files in Bank Reconciliation.
Created
This is the date that the vendor was created. This date defaults to the current date but you can enter a different date if you prefer.
Status
Enter a status for this vendor. You can choose from three different vendor statuses that are used for reporting purposes.
• Active: use this status to indicate current vendors with whom you do business. They may or may not have a balance at this time.
• Inactive: use this status to indicate vendors with whom you no longer do business and who have a zero balance.
• Temporary: use this status to indicate vendors with whom you are only doing business for a short period of time. This status means that you do not want to keep these vendors in your permanent accounts.
Prod Type
This is an optional user-definable field that can be up to 15 alphanumeric characters. You can use this to assign identifying information to vendors that you can later use to filter and/or sort some of the Accounts Payable reports.
Credit Limit
This field is optional. If this vendor has a credit limit, enter it here.
GL Expense
If Accounts Payable is
integrated to the General Ledger module, you can use this field to specify the General Ledger expense account for this vendor.
This account number will then automatically appear in the GL Expense Account field when entering a bill. If Accounts Payable is not integrated to General Ledger, or if there is no single expense account that you use more often with this vendor, you can leave this field blank.
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.
Due Date Calculation Method
The Due Date Calculation Method fields allow the system to automatically calculate early payment discounts and due dates for invoices for your vendors. When you enter information in these fields, you are setting the default invoice and discount dates for this vendor; however, you can still edit these when you enter individual bills.
Invoice
Use this field to designate the calculation method that you want the system to use when determining the date that the invoice is due.
There are four options from which to choose:
• Days from Invoice Date (default): the system will calculate the due date by adding the number of days you enter in the Days field to the invoice date that you enter when you enter the bill.
• Day Of The Month: the system will calculate the due date based on the day of the month that you enter in the Days field.
• Days After End of Month: the system will calculate the due date based on the number of days that you enter in the Days field after the end of the month in which you enter the bill.
• Days Before End of Month: the system will calculate the due date based on the number of days that you enter in the Days field before the end of the month in which you enter the bill.
Discount
From the drop-down, select the calculation method you want to use to determine the date by which you can receive an early payment discount offered by the vendor.
• Days from Invoice Date (default): the system will calculate the last date to receive the early payment discount by adding the number of days you enter in the Days field to the invoice date that you enter when you enter the bill.
• Day Of The Month: the system will calculate the last date to receive the early payment discount based on the day of the month that you enter in the Days field.
Many vendors enter Days from Invoice Date and 30 to calculate the invoice date and Days from Transaction Date and 10 to calculate the discount date. This means that the bill is due in thirty days but, if payment is received in ten days, you can receive the discount in the Discount field.
Days
Enter the number of days you want the system to use when calculating due dates for invoices and any associated discount, such as for early payment. Enter 0 when you want the calculated days to equal zero or when this due date option is not in use.
1099 Applicable
If this vendor will require an IRS form 1099 after the end of the year to report payments, select this check box. Use the 1099 tab in this window to further define this vendor’s 1099 requirements.
Discount
This field specifies the discount percentage to calculate the discount if the invoice is paid within the specified time.
Related Topics
Published date: 12/03/2021