Deltek Vantagepoint Help

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Accounts Payable Settings

Use Accounts Payable Settings to set up company-wide accounts payable features, including default payment terms, liability codes, vendor types, and discount codes.

Liability Codes

If you use multiple companies, you must set up accounts payable for each company. In addition to these company-wide accounts payable options, you must set up accounts payable options at the enterprise level.

If you use organizations and maintain separate balance sheets for your organizations, you should set up a liability code for each organization. However, if you want the voucher posting to follow the project’s organization, you do not have to enter a liability code for each organization. Instead, leave the Organization field blank on the Liability Codes tab of the Accounts Payable Settings form, and the liability follows the project’s organization.

Liability codes are associated with the vendor type by default; however, you can override the default liability code in Accounts Payable Voucher Transaction Entry.

To close out (consolidate) liability code data into a single liability code, use the Liability Code Key Conversions utility (Utilities > Key Conversions > Liability Codes). You can either consolidate data between two existing liability codes or set up a new liability code into which you close out liability codes that are no longer in use.

Discount Codes

You can also set up discount codes for vouchers on the Discount Codes tab of the Accounts Payable settings form. Vantagepoint uses discount codes during processing to determine the account, project, and task to which to post any discounted dollars when the voucher is paid. If you want a vendor to use discount terms, you must specify the discount code in the Firms hub.

You also set up discount terms for each vendor in the Firms hub. These terms include a discount percentage and a discount period in which the discount applies. During Automatic Payment Processing or Manual Select Payment Processing, Vantagepoint automatically applies the discount percentage to the payment amount if the discount period is between the payment date and invoice date (specified on the Payment Processing form).

To close out (consolidate) discount code data into one discount code, use the Discount Code Key Conversions utility (Utilities > Key Conversions > Discount Codes). You can either consolidate data between two existing discount codes or set up a new discount code into which you close out discount codes that are no longer in use.