Creating pay groups
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Select .
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Click Create.
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Specify this information:
- Vendor Group
- Select a vendor group. A vendor group represents a group of
vendors that can be shared by more than one Payables company. All companies that are
associated with a pay group must belong to the same vendor group.
- Pay Group
- Specify a code and description for the pay group.
- Posting Company
- Select a general ledger posting company for the pay group. This
company is used for posting cash transactions to the global ledger.
The posting company must have the same functional currency as all of
the companies that are associated with the pay group.
- Cash Code
- Specify a cash code. Valid relationships must be defined between
the cash code and all of the companies that are associated with the
pay group, including the posting company. You define relationships
in Cash Management.
- Default Payment Code
- Specify a default payment code for the pay group. This field
represents a type of cash payment. For example, a check or payment
file, or bill of exchange payment transaction code in Cash Management.
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On the Options tab, specify this information:
- Bill of Exchange Number Option
- Specify the BOE number option. Select Automatic to automatically assign numbers to bills of exchange.
- Last Bill of Exchange
- Specify the last BOE that was used. If bill of exchange payments are processed by pay groups, then specify the last bill of exchange number that was printed for the pay group. The next sequential number is used. If this field is blank, the numbering sequence begins with 1.
- Bill of Exchange Accrual Code
- If the Bill of
Exchange Acceptance Accounting check box is
selected, then specify a valid bill of exchange accrual code. This
field is used to represent a default acceptance account.
- Bill of Exchange Acceptance Accounting
- If bill of exchange payments are processed by the pay group, then
select whether the BOE amount is posted to the BOE acceptance
account when it is accepted. If you select the check box, then you
must also select a Bill of Exchange Accrual Code.
- Bill of Exchange Draft Statements
- Select this check box if you are using draft statements.
- Remittance Advice From Email Address
- Specify the email address for the remittance
advice.
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Click Save.