Setting-Up Payment Term Defaults for Vendors

When a vendor is defined, you can specify a credit term code to be used as the default when an invoice is created for the vendor. To set-up the credit terms default, perform the following steps:

1. Select the option for Vendor Master Maintenance from the Accounts Payable Menu to display the Vendor Master Maintenance - Function Select Screen. Enter the vendor number.

2. If the vendor already exists, enter the maintenance code to Change Vendor Remittance and press Enter; otherwise, enter the maintenance code to add or copy a new vendor.

3. On the Vendor Master Maintenance - Remittance Screen, enter the default credit term for the vendor in the Credit Terms field. A sample Remittance Screen is shown below.

WILLIAMS                   COMMON FEATURES                             1/13/93

 DSP01                 VENDOR MASTER MAINTENANCE                     REMITTANCE

 Vendor BCA00001                                       Vendor Status     ACTIVE

 Search BCA MANUFACT             Related Customer                Co/Loc        

 Vendor Name and Address                 Remit-To Vendor                        

 BCA MANUFACTURING                       Consolidated Vendor                   

 3234 W. GLACIER DRIVE                   Vendor Group             Vendor Type  

                                         Vendor Class         01   Pers Info  Y

 CHICAGO           IL 60634              Payment Type         CK               

                                         Bank Code  B1  Std Distr              

 Currency Code   USD  S/M Curr Opt  M    Lang Code                             

 Credit Terms BA   .00 % If Paid  IN   0  EOM Disc N                      

                Net   0  EOM Net N   FDO 1  Delay  2                           

 VAT Code         R1                     A/P Code             AP               

 VAT Declartn Pt  1    VAT Print     N   Vendor Hold Code                      

 VAT Calc Method  G    VAT Control   N   Always Take Disc     Y                

 One-Time Vendor  N    VAT included  N   Vendor Bank No                        

 1099 Code             Withhold Code     Vendor Bank Account                   

 Taxpayer ID      338456543              Separate Pmt         N                

 Turn Around Doc  Y    On-Acct Cmnt  N   Net Debit Memo       N                

                                                                               

 F2=Command          F3=Exit             F4=Prompt           F9=Inquiry        

 F10=Function Select F15=Rekey Data

Vendor Master Maintenance - Remittance Screen

Note: Although you must enter a credit term default, you can override the default value at invoice entry time.