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Documentation > MAC-PAC Reference Library > Financials > Accounts Payable > Key Concepts and Procedures > Standing Payables > Defining a Standing Payable

Defining a Standing Payable

Most of the fields you enter when you define a standing payable are similar to the fields you enter for any open item.  These include information about what credit terms apply to the item, how discounts should be calculated for each line, and the accounts where the transaction should be posted.  In addition, the following types of information are specific for standing payables:

·     Beginning and Ending Month/Year

·     Single Recurrence Flag

·     External Document Flag

·     Standing Payable Hold Code

These fields are all defined on the standing payable header screen.  The figure below is a sample of this screen with the unique standing payable fields highlighted.  Each of these fields is described thoroughly in the remainder of this key concept. 

WILLIAMS                       ACCOUNTS PAYABLE                       12/31/92

 DSP01             STANDING PAYABLE ENTRY AND MAINTENANCE                HEADER

                                                                               

 Vendor            V01            ACME SUPPLY                                  

 Paying Co/Loc     001 BEL        Orig Co/Loc      001 BEL                      

 Standing Payable  02                                                          

                                                                               

 Beg Month/Year     7 92   End Month/Year            Single Recurrence  N       

 Ext Document      N       SP Hold Code     N        Fiscal Flag        Y       

 Currency       USD        Exchange Rate       1.00000                         

 VAT Code       R1         VAT included     N        Inv Fmt            G      

                                                                                

 Buyer          A          Stnd Dist                                           

 Book Code      AP         AP Code          AP       Bank Code          B1     

 Payment Type   CK         Separate Pmt     N        Disc Always        N      

 Pmt Hold Code  N          Turn Around Doc  Y                                  

 Taxpayer ID  TXID1001                                                         

 Credit Terms 99    2.25 % if paid IN  10 EOM Disc N  Due 030  EOM Due N       

 VAT Delay    N            FDO 2  Delay 00                                     

                                                                               

 F4=Prompt           F12=Comments        F13=Cancel Trans                      

                                                                               

 

AP190S02 - Standing Payable Entry Header Screen