VENDORS - Billing Tab

Understand Vendor Terms / Remit To Address / Banking Information / GL Accounts used in AP Transactions

• G/L Accounts
  • Accounts Payable - when first setting up a new Vendor, the default G/L account for Accounts Payable can be changed, but not once the record is saved
  • Expense - set the default G/L expense account associated with this Vendor
  • Payment - select the Bank GL Account that this Vendor will be paid from
• Account

• • 
    Payment Terms -   select from a preset list, or  Add a new Payment Term from the browse list, for use in this and future Vendors and Purchase Orders

• • • enter a Code of up to 10 characters
    • enter Description of up to 60 characters
    • Days Available - if payment is posted on a date within this date range from the date of the invoice, Spire will automatically calculate a discount at the established Discount Rate
    • Days Before Due - number of days from the invoice after which it becomes passed due
      • From End of Month to use end of calendar month of the Invoice date to calculate Due Date from
    • Apply Discount to Net Amount - unchecked will apply the discount to the gross amount
    • Apply Discount to Freight or not

• • • see where this Payment Term is used in the Customers / Vendors / Accounts Receivable / Accounts Payable tabs
  • Account No - define the account number the Vendor has for you, which can be printed on cheques and / or remittance forms

• • Credit Limit - establish a limit to activate the Spire credit watch on this account
  • Currency - establish the correct currency for this Vendor (this may not be changed once transactions are posted to this Vendor’s account in Accounts Payable)
    • to activate Multicurrency - Edit > Company Settings > Multi-Currency (see General Ledger )
  • Use billing address taxes on purchase order - check this if you don’t want Customer Ship-to or Warehouse address taxes to apply
  • Print Cheques - set if cheques will be printed for this Vendor by default when posting a payment in Accounts Payable (see Accounts Payable - New Payment)
  • Use Remit To - activate to define a location where cheques are to be sent, if different than where Purchase Orders are sent

• • • in the Billing tab - select  Use Remit To 
    •   Save
    • move to the Addresses tab and note the new Remit Address where you can enter address etc:

• Banking Information - required for processing Accounts Payable EFT Payments (see AP EFT Payments)