Setting up Payables

For each company that will be receiving invoices from other companies, you must establish default Intercompany Billing processing rules. Processing rules are set up in the company's Intercompany Billing tab.
  1. Open a Payables Company record.
  2. Specify this information:
    Process Level
    Select a payables process level for all Intercompany Billing invoices. The Invoice Accrual Code contained within this process level will be the default Invoice Accrual Code for Intercompany Billing invoices. Payables reporting and processing can be selected and sorted by process level.
    Vendor
    Select a vendor for all Intercompany Billing invoices. This vendor represents the Payables Company. To enable Intercompany Billing processing, this vendor must have these features:
    • Be on hold with a vendor-based Hold Code that is a Permanent Hold
    • Not be associated with another Intercompany Billing-enabled payables company
  3. In the Defaults for Settlement section, specify this information:
    Cash Code
    Select a code to use for payments.
    Bank Transaction Code
    Select a code to use for payments
    Bank Fee Code
    Select a fee code for possible bank fees that are associated with sending a payment.
    Note: A Receivables Company must be set up for this same Payable Company with a default customer in the Intercompany Billing options.