Entering a Vendor Record

For each vendor you can enter a record that will help you track and control all subsequent transactions with the vendor.

1. Open the Vendors form, or the Multi-Site Vendors form if you are working in a master site.
2. Turn off filter-in-place mode.
3. Select Actions > New.

4. Enter the following information in the header:

   1. In the Vendor field, enter a unique number, string of characters, or combination of characters and numbers to represent the vendor. If you do not enter a value, the system assigns the next unique numerical value automatically. If you set up a vendor prefix in the Accounts Payable Parameters form, the system prefixes the vendor number with that prefix. The combined prefix and number cannot be longer than 10 characters.
   2. In the field beside the vendor number, enter the vendor's company name, which will appear on reports and payments.
   3. If you are working in the Multi-Site Vendors form, specify the Site at which this vendor will be added.
   4. In the Category field, select the appropriate category for this vendor, if necessary.
   5. In the Status field, enter any identifier to indicate the vendor's status.
   6. In the Currency field, enter or select the preferred domestic currency. The default value is your company's domestic currency.

5. Select the Credits tab.

   1. In the Terms field, select a valid payment term code.

   2. In the Payment Type field, select the type of payment to be used as the default value on A/P payments. Select Standard Check, Manual Check, Wire Transfer, Standard Draft, Incoming Draft, or EFT.

      If the payment type is EFT, enter additional electronic funds transfer information for the vendor. For more information, see Setting up and Using Electronic Funds Transfer.

   3. In the Bank Code field, select a valid bank code for the vendor. This code represents the default bank account where the vendor's checks or drafts are deposited. Bank Codes set up with domestic currency or vendor currency will be allowed.
   4. In the Voucher Tolerance Over field, enter the upper tolerance factor percentage.
   5. In the Voucher Tolerance Under field, enter the lower tolerance factor percentage.

   6. Select the type of method you want to use for vendor contract pricing. Select Use Order Date or Use Due Date.

      NOTE: You can change this option more than once. Changing the option from Use Order Date to Use Due Date does not affect orders already created.

6. To print VAT amounts and VAT codes on purchase orders, select the Print VAT on PO check box. On the Vendors form, this field is on the Taxes tab. It does not exist on the Multi-Site Vendors form.
7. In the [Tax ID] and [Tax Codes] fields, enter the tax registration number (if any) and tax code (if any) associated with [Tax System (1)] and [Tax System (2)] for this vendor. On the Vendors form, these fields are on the Taxes tab. They do not exist on the Multi-Site Vendors form.
8. If the vendor is a member of the European Union (EU), enter the EU Code, Branch ID, NOTC, Delivery Terms, and Process Indicator. On the Vendors form, these fields are on the Taxes tab. On the Multi-Site Vendors form, they are on the EU VAT tab.
9. If you must submit DIOT and IETU reports, specify the Vendor DIOT Type and Tax Reg Num Type. These fields are enabled only for users who are assigned a Mexico Localization license.
10. On the Ship From, Remit To, and Contacts tabs, you can enter address and contact information which appears on reports and payments.
11. Select Actions > Save.

Related Topics

Accounts Payable Steps

Adding a Multi-Site Vendor (No Master Site)

Posting Vouchers - Detail

Setting up Electronic Funds Transfer (EFT)