Procurement cards integration with Payables

The Procurement Card solution is used to create invoices for each statement of charges received from the bank. This Payables invoice is processed and paid using the Payables payment cycle.

The procurement card number can be assigned during vendor setup to be the default on the purchase orders that are created for that vendor. Additionally, the Payables vendor can be flagged to require a procurement card number while creating a purchase order for that vendor. Vendors can be set up for procurement cards during conversion by using Vendor Conversion. Payments are created to the procurement card bank that is defined as a vendor in Payables. In addition, procurement card merchants can be associated with a Payables vendor. You can create consolidated 1099 reports for vendors and merchants and other procurement card reports.

These are the 1099 reports that you can use:

• US 1099 Tape Creation can restrict to up to 10 merchants.
• Reportable Income Report can restrict the listing of a vendor's reportable income by procurement card program and merchant or merchant group.

When run by a specific vendor, these reports list the income for the vendor and its associated merchants.