Firms Vendor Tab
The Vendor tab displays when the Accounting application is enabled and you set Firm Type to Vendor on the Summary Pane, or when you edit a firm record. Use the Vendor tab to enter the vendor's purchasing, banking, accounting, and payment information.
Contents
You enter and display most information in grids on various forms. For information about using grids, see Working with Grids.
Vendor Information
| Field | Description |
|---|---|
| Approved for use in processing |
This checkbox displays if you use Vantagepoint Accounting. Select this option if the vendor is approved for use when processing accounting transactions. This checkbox is selected by default when a Vantagepoint Accounting user adds a new vendor record. It is disabled for all other users. If you are an Accounting user, you can select this checkbox at any time. However, you can clear it only if the vendor record has not been used in any accounting transactions. When you select this checkbox, Vantagepoint prompts you to enter information in the required fields on this tab before you can save the record. If you have multiple companies, this option displays as Approved for use in processing for company XX. This option enables you to enter accounting information for each vendor on a company-by-company basis. If accounting information is not entered for this vendor, the tab displays This firm is not ready for accounting transactions. In this case you must click the Add Accounting Information button and add details before you can make this firm available for processing. |
| Vendor Number |
Enter the vendor's identification number. If you select the Approved for use in processing option, the Vendor Number automatically updates to display the same number that is entered in the Firm Number field on the Summary Pane. The vendor number is required. After any transactions are associated with the vendor, the number can only be changed through a vendor number key conversion in Utilities. If you configure Vantagepoint to use the automatic numbering feature, [AUTONUMBER] displays in this field and will be populated with the same value that is generated for the firm number. If you have appropriate access rights, you can change the number. If automatic numbering is enabled for firms but the number field is locked for your user role, the firm number is automatically generated. You establish the length and format of your vendor numbers when you install Vantagepoint. If you need to change the number length or format after installation, you must use the Vendor Number Key Format utility. |
| Vendor Type |
Select the vendor type. You establish the possible vendor types and corresponding liability codes on the Liability Codes tab in . Each liability code is associated with an account number from your general ledger. When you enter a vendor in AP Vouchers Transaction Entry, Vantagepoint inserts the associated liability code for the vendor type in the AP Liability field. The account number associated with the liability code receives the credit (implicit) when you post the AP voucher. You can change the default liability code during transaction entry. If you have multiple companies, vendor types are specified at the enterprise level. You can specify which vendor types are available to each company in your enterprise. You can also associate the available vendor types with different liability codes for each company. Only the vendor types that you select for the active company display in the drop-down list in this field. |
| Federal ID |
Enter the 11-digit number assigned to the vendor by the federal government for tax purposes. If the vendor is a consultant, this number is usually the consultant's Social Security number. You must enter a Federal ID number for all vendors who receive a 1099 form. This ID number displays on the printed 1099 form. |
| Type of TIN |
Select the type of TIN (tax ID number) of the vendor:
|
| Organization |
Click
|
| Payment Address |
This field displays the firm's payment address, as specified on the Overview tab. |
to edit the selection. To select an organization that is associated with the vendor, click
to display list of available organizations. Click
Additional Vendor Information
| Field | Description |
|---|---|
| Separate Checks |
This option is enabled when you select Approved for use in processing. Select this checkbox to print a separate check for each voucher submitted by the vendor. If you do not select this option, when you process payments (checks), Vantagepoint totals all the vendor's vouchers currently scheduled fo payment, and then prints one check for the total amount owed to the vendor. |
| Account Number |
This field is enabled when you select Approved for use in processing. Enter your vendor-assigned account number. This is the customer number that your vendor uses to identify your account. |
| Default Tax Code |
This field displays only if you set the Enable Tax Auditing Feature option to Yes in . Select a default tax code to use in Transaction Entry, to calculate taxes for accounts payable vouchers and accounts payable disbursements for this vendor. When you enter an AP voucher or AP disbursement, you can change the default tax code as needed. The drop-down list for the Default Tax Code option displays only the tax codes with an active status that have the Transaction Entry checkbox selected in the Inputs section of the Options tab in . When you enter an AP voucher or AP disbursement in Transaction Entry, the default tax codes that are on the New File dialog box are used to calculate the taxes for each voucher or disbursement in the transaction file. (The default tax codes on the New File dialog box prefill from the Tax Auditing feature in .) However, if you enter a default tax code for a vendor, the vendor's default tax code will be used as the first tax code to calculate the tax for a voucher or disbursement instead of the default tax code that has the first (or lowest) sequence number from the New File dialog box. Example: A vendor's default tax code entered in the Firms Hub is QQQ. The default tax codes that are entered on the Tax Auditing feature in that prefill on the New File dialog box are AAA (with sequence 5), BBB (with sequence 30), and CCC (with sequence 45). Tax code QQQ from the vendor record will override tax code AAA (with sequence 5, the lowest sequence number) when AP vouchers and AP disbursements are entered in the Transaction Center for that particular vendor. The tax codes used for the transactions for that vendor are QQQ, BBB, and CCC. If no tax codes are entered on the New File dialog box in Transaction Entry and a vendor has a default tax code entered in the Default Tax Code field here in the Firms hub, the default tax code is used to calculate taxes for the AP voucher and AP disbursement. You can override this tax code when you enter an AP voucher and AP disbursement. |
| Payment Notes |
Enter any notes related to the payment. |
Default Voucher Information
These fields display when you select Approved for use in processing.
| Field | Description |
|---|---|
| Payment Terms | Select the default payment terms to use each time a voucher is entered for the vendor. Alternatively, enter a numeric value directly in this field. For example, you can enter a priority vendor with payment terms of
Next to ensure that all vouchers for the vendor are paid each time that you pay vouchers in the Vendor Payments application.
The options are:
The default payment terms that you specify in this field override the default payment terms selected on the Payments tab in . |
| Regular Account |
Enter the account number that receives the debit (explicit posting) when you post vouchers to a regular project for the vendor. This account must be a direct or reimbursable expense account. You can enter an account number directly in this field, use the Quick Find feature to select an account from your database, or click Search in this field and select an account on the Account lookup. The account number that you enter in this field displays in the Account field in AP Vouchers Transaction Entry. You can override this account number when you enter a voucher line. |
| Default Expense Code |
This field displays only if you set the Enable Expense Codes option to Yes on the Options tab in . Select the expense code that serves as the default when you enter an AP voucher or AP disbursement for the vendor in Transaction Entry. This drop-down list includes all expense codes defined in . You can override this value in Transaction Entry. If you do not select a value in this field, no default value displays in Transaction Entry. If you have multiple companies, you can select a default expense code for each individual company. In Transaction Entry, the expense code will default based on the vendor accounting record matching the project's company. |
| Indirect Account |
Enter the account number that receives the debit (explicit posting) when you post vouchers to an overhead or promotional project for the vendor. This account must be an indirect expense account. You can enter an account number directly in this field, use the Quick Find feature to select an account from your database, or click Search and select an account on the Account lookup. The account number that you specify in this field displays in the Account field in AP Vouchers Transaction Entry. You can override this account number when you enter a voucher line. |
| Discount Percent |
Enter the percentage of the total voucher amount that you want to credit to the discount account when you pay the total amount due within the specified discount period. For example, enter 10.00 for a 10% discount. |
| Discount Period |
Enter the number of days that the discount applies. |
| Discount Code |
Select a discount code for the vendor. |
1099 Information
These fields display when you select Approved for use in processing.
| Field | Description |
|---|---|
| 1099 Required |
Select this checkbox if the vendor should receive a 1099 form at the end of the calendar year. |
| Paid This Year |
This field displays the amount paid to this vendor during the current calendar year. You can enter a new amount in this field to override the system-generated amount. The amount in this field excludes credit card payments made to a vendor in AP Disbursement Transaction Entry. This follows the federal requirement that a company is not responsible for reporting amounts paid by credit card. At the end of the year, you run the 1099 Initialization utility in before you process and create 1099s in . When you run the 1099 initialization, the amount in the Paid This Year field is moved to the Paid Last Year field and the amount in the Paid This Year field is set to zero, so you can start to accumulate data for the new year. The Paid Last Year amount is used when you process and create 1099s. |
| Paid Last Year |
This field displays the amount paid to this vendor in the previous calendar year. You can enter a new amount in this field to override the system-generated amount. The amount in this field excludes credit card payments made to a vendor in AP Disbursement Transaction Entry. This follows the federal requirement that a company is not responsible for reporting amounts paid by credit card. At the end of the year, you run the 1099 Initialization utility in before you process and create 1099s in . When you run the 1099 initialization, the amount in the Paid This Year field is moved to the Paid Last Year field. The Paid Last Year amount is used for Form 1099 processing and prints in the Nonemployee compensation box on a 1099 form. |
Purchasing
These fields display when you select Approved for use in processing and the Purchasing application is installed.
| Field | Description |
|---|---|
| Match Method |
Select the matching method to use to generate AP vouchers from purchase orders for this vendor. This field displays if you use Vantagepoint Purchasing. The options are:
The method that you select becomes the default setting for the vendor. You can change the default setting when you create an AP voucher from a purchase order. |
| RFQ/PO Template |
Select a custom request for quote (RFQ) or purchase order (PO) template for the vendor. This field displays if you use Purchasing.
|
| Contact |
Select a contact to use as the default contact for purchase orders that are entered for this vendor. The contact's name that you enter here prefills in the Contact field in the Vendor section on the General tab of the Purchase Orders form. On a purchase order:
The contact's name that you enter in this field also prefills for an equipment item that is created automatically from a line item on a purchase order. The contact name prefills in the Vendor Contact field on the Purchase Order tab of the Equipment form in the Equipment hub. |
Banking Information
Use the banking and EFT (Electronic Funds Transfer) fields to set up bank account information that enables you to remit AP payments directly to the vendor's bank, rather than print checks.
These fields display when you select Approved for use in processing.
| Field | Description |
|---|---|
| Electronic Payment Method |
Select one of the following electronic payment types for the vendor.
|
Wires and Direct Deposits Section
Use these fields to set up the vendor’s banking information for storing with wire or direct debit payments. This information is also available for reporting purposes.
These fields display when you select Approved for use in processing.
| Field | Description |
|---|---|
| Bank ID Type |
This field identifies the type of bank identifier that you specify in the Bank ID field. Use the drop-down list to select a value, such as ABA/Routing. Administrators can edit this list in . |
| Bank ID |
Enter the vendor’s bank identification number in this field. |
| Account ID Type |
This field identifies the type of account number that you specify in the Account ID field. Administrators can edit this list in . |
| Account ID |
Enter the vendor's account identification number in this field. |
| Banking Information/Bank Name |
Enter the name and address of the vendor’s bank to which wires are sent, or from which direct debits originate. |
NACHA
Select this option to enter file format information if you use the ACH network to make electronic funds transfer (EFT) payments through your bank for this vendor. The bank information that you enter is used in the creation of the bank file when you process accounts payable EFT payments to vendors.
| Field | Description |
|---|---|
| Bank ID |
Enter the bank routing number of the bank to which funds will be deposited when you process an AP payment for the vendor. This field does not display if you select the ClieOp option in this section. |
| Status |
Select a status for the vendor's EFT account. The options are:
|
| Account Type |
Select the account type for the account that is entered in the Account Number field. This is the account type of the account associated with this bank code. Options are Checking or Savings. |
| Account Number |
Enter the bank account number of the bank from which payment for the total amount of the electronic payment will be made. |
| Remittance |
Select this option to indicate that the vendor requires a printed copy (remittance advice) of the transactions in the EFT file. You print the remittance advice in . |
| EFT Email |
Enter a contact's email address in the field, or select an address from the Contact lookup. To access this field you must set the Remittance option to Email Remittance. |
| Addenda |
Select this checkbox to create an addenda record that will be written to the bank file immediately following the EFT entry detail record. The addenda record is written in the ACH CCD Addenda Record format and contains the following data: Record Type Code = "7" Addenda Type Code = "05" Payment Related Information (80 bytes) is a collection of 10 fields:
Addenda Sequence Number = "0001" Entry Detail Sequence Number = "nnnnnnn" (Trace Number) |
SEPA Selected
These settings apply if you make accounts payable payments to vendors using export-to-text files with the SEPA file format. The SEPA (Single Euro Payments Area) .xml file format is commonly used in the Netherlands. When you select SEPA, the EFT options change to display the following fields.
| Field | Description |
|---|---|
| IBAN |
Enter the international bank account number (maximum 34 characters) for a vendor. This is used to transmit the payment to a payee when the .xml file is sent to the bank. |
| BIC | Enter the bank identification code (either 8 or 11 characters) for a vendor. This is used to transmit the payment to a payee when the .xml file is sent to the bank. |
| Remittance |
Select this option to indicate that the vendor requires a printed copy (remittance advice) of the transactions in the EFT file. You print the remittance advice in . |
| EFT Email |
Enter a contact's email address in the field, or select an address from the Contact lookup. To access this field you must set the Remittance option to Email Remittance. |
ClieOp Selected
Select this option to specify that a vendor will be paid by ClieOp transfers, which are most frequently used for payments made in Euros to recipients in the Netherlands. When you select ClieOp, the EFT options change to display the following fields.
| Field | Description |
|---|---|
| Account Type |
Select the account type (checking or savings) for the account entered in the Account Number field.
|
| Remittance |
Select this option to indicate that the vendor requires a printed copy (remittance advice) of the transactions in the EFT file. You print the remittance advice in . |
| EFT Email |
Enter a contact's email address in the field, or select an address from the Contact Lookup list. To access this field you must set the Remittance option to Email Remittance. |
| Account Number |
Enter the vendor’s account identification number in this field. |
