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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
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AP190S02 - Standing Payable Entry Header Screen