Which Accounts Payable concepts apply to Purchase Order?

Before you use the Purchase Order application, become familiar with the Accounts Payable concepts in the table below. These concepts are used often throughout Purchase Order processing. For more detailed information about each of the concepts, see the Accounts Payable User Guide.


Cash Management	A Lawson application that helps to define the cash flow for your company. It contains information about the following: Banks Bank accounts (cash codes) Payment types (transaction codes) Formats (ACH tape, EDI, system check)
Terms Code	A code that is associated with the terms of a vendor agreement. It defines when payments are due and specifies the payment arrangement.
AP Vendor Group	A number that is associated with one or more vendors. After you set up a vendor group, you can assign it to one or more companies throughout your organization. You can process and report on transactions to and from a specific vendor for multiple companies simultaneously through a vendor group.
AP Company	A container that determines invoice processing parameters. It specifies how to release invoices for payment processing and whether a company is ERS capable.
AP Process Level	A number that identifies a division, department, or cost center within a company as its own processing unit. This number lets you set up individual units within a company that process their own payment cycles.
Hold Codes	A code indicating that returns should not sent back to the vendor.
AP Vendor	A vendor is a person or organization that supplies you with goods or services that you pay for. All vendors are assigned to a vendor group.
Vendor Location	A remittance or purchasing location for a vendor. Vendor locations track remit to and purchase from payment processing and balance information under a single vendor number. If you define payment processing and purchasing information specific to a location, you can report or inquire on the information both for the individual location and the vendor as a whole.