Setting Up Accounts Payable Parameters

  1. On the Accounts Payable Parameters form, specify this information on the General tab:
    Vendor Prefix
    Specify the default prefix to use for vendor numbers.
    Aging Basis
    Select one of these options for aging the transactions:
    • Invoice Date: Age open item amounts by voucher invoice date.
    • Due Date: Age open item amounts by voucher due date.
    • Discount Date: Age open item amounts by voucher discount date.
    <= (Days)
    Specify the possible maximum age in days for an invoice for each of the five aging periods. The second, third, fourth, and fifth dates are based on the due date or the invoice date, as determined by the first date. The number entered indicates the lower limit for each entry. Use negative numbers to indicate future due dates and positive numbers to indicate past due dates. Specify the numbers in ascending order. The first <= field is usually a negative number, indicating items due in the future.
    Title
    For each of the five aging buckets, specify a corresponding name.
    Multi-Site Group
    Select the site group to use as a default.
    Remittance Advice
    Select a payment type to trigger the printing of a remittance advice document:
    • Wire: Standard wire payment
    • EFT: EFT wire payment
    • Manual: Manual check
    • Draft: Incoming draft
    EFT Format
    Select the format to use when creating Electronic Funds Transfer files for submission to a third party EFT transmission system:
    • ALLEFT
    • BBMEFT
    • ABAFILE
    You can select only one EFT format per site.
    EFT Bank Code
    Select the bank to use to make EFT payments. These bank codes are defined on the Bank Reconciliations form.
    EFT Directory
    Specify the network path, or the drive and directory, to which EFT output files are written.
    EFT User Name
    Specify the name of the EFT user. This field is enabled only when the EFT Format is set to ABAFILE.
    EFT User Number
    Specify the number of the EFT user. This field is enabled only when the EFT Format is set to ABAFILE.
    Last EFT File
    The last EFT file number that was created in the EFT Directory is displayed.
    Last EFT File Date
    The date the last EFT file was created is displayed.
  2. Specify this information on the Accounts tab:
    Accounts Payable
    Select the G/L account number designated as the default account for A/P.
    Purchases
    Select the G/L account number to use as the default account for purchases. This is used primarily for purchasing items that do not have records maintained in the Items form.
    Misc Charges
    Select the number of the G/L account to use as the default for miscellaneous purchase charges.
    Freight In
    Select the General Ledger account number you want as the default account for freight-in expense.
    Duty Expense
    Select the General Ledger account number designated as the default account for duty expense.
    Brokerage
    Select the G/L account number designated as the default account for brokerage expense.
    Sales Tax Expense
    Select the General Ledger account number to designate as the default account for sales tax expense.
    Discount
    Select the G/L account number to use as the default account for purchase discounts.
  3. Specify this information on the Miscellaneous tab:
    Commissions
    Select the Commissions Paid Expense account number to use by default. This account is used by the A/P Check Generation function when Commission Due records from Sales/Parts Orders are collected. You can switch to another account using the A/P Check Distribution form after generation.
    Deposit Account
    Select the deposit account number to use by default. You can overwrite this number on the A/P Payment Distribution form.
    Drafts Payable
    Select the account to use as the default draft account.
    Recognize VAT
    Select this check box to create separate journal entries for each Tax Distribution, using the tax code account numbers.
    A/P Suspense
    Select the A/P suspense account to use by default on other forms. You can overwrite this account on the Voucher Pre-Register form.
    A/P Unmatched
    Select the A/P unmatched account to use by default on other forms.
    Acquisition VAT Account
    Select the account to use to display the credited balance after all tax codes are posted from the EU VAT Report form.
  4. Specify this information on the 1099 tab:
    Payer Name Control
    Specify the IRS payer name control from the package 1099 mail label.
    TIN Name
    Specify the name used to acquire the Tax-Payer ID Number (TIN).
    Transmitter Name
    Specify the person or organization submitting the electronic file.
    Transmitter Control Code
    Specify the transmitter control code assigned by the IRS for electronic filings.
    Transmitter Address Fields
    Specify the address information for the transmitter of the electronic file.
    Transfer Agent Name
    Specify the name of the organization that is authorized to perform reporting or paying services.
    Transfer Agent Address Fields
    Specify the address information for the transfer agent.
  5. Save the parameters.
Related topics