Maconomy Workspace Client Help

Company Specific Payment Control Tab

This section includes the fields and descriptions for the Company Specific Payment Control tab.

Vendor Island

Field Description
Vendor No. This field displays the number of the current company-specific vendor. The value cannot be changed.

The other lines in this field show the name and address of the vendor. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.

Attn. This is the company-specific vendor attention person; that is, the person to whom payment information is directed. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.
Country In this field, you can select the country to which the company-specific vendor is assigned. It is used for reference and statistics.

If you alter the country code in this window, Maconomy will check that any validation rule for tax and social security/federal ID numbers in the window Rules of Validation are observed.

Phone This is the company-specific vendor’s phone number. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.
Fax This is the company-specific vendor’s fax number. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.
Telex This is the company-specific vendor’s telex number. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.
Our Cust. No. This is your company’s customer number with the company-specific vendor. The information is retrieved from the Company Specific Vendor Information Card, but can be changed here.
Currency This field displays the currency that the current company-specific vendor uses as standard base currency.

Settling Company Island

Field Description
Company No. In this field, you can enter a value for the Company dimension. If you specify a company, that company will be the settling company on all company-specific vendor invoices, item purchase orders, and so on, where the current vendor is the pay to vendor.

If you do not specify a settling company, the vendor is regarded as a global vendor. When a global vendor is specified on, for example, a vendor invoice, the settling company will be determined from the company responsible for the vendor invoice journal in question, as Maconomy will retrieve the value from the field “Vendor Settling Company” in the Company Information Card for the responsible company.

The value of the field also determines the users who have access to the vendor. In the window Company Information in the G/L module, it is possible to assign each company to an access level. Users only have access to see information about a vendor if they have been assigned to the same or a higher access level. A user will, for example, only be able to see the vendor information card of a given vendor and refer to the vendor in question on, for example, vendor invoices if the vendor’s settling company has been assigned an access level to which the user also has access. In addition, the user must have access to the access level specified in the island Access Level in order to have access to the current vendor. Please note that this access control model only applies if the standard access control configuration has not been changed in your Maconomy system. If it has, the access to vendors may depend on other factors. For further information about the standard access control configuration and access control in a multi-company model, please see the section “Introduction to the Access Control System” in the Set-Up module.

For further information about the influence of the settling company and how such a company is determined, please see the section Multiple Companies in the chapter “Introduction to the G/L module.”

Name This field shows the name of the company shown in the field “Company No.” above.
Currency This field displays the currency used as base currency in the company specified in the field “Company No.” above.

Payment Status Island

Field Description
Selected for Payment This field shows whether the company-specific vendor is selected for payment. Maconomy marks the field when you make a payment selection. Payment selections are entered in the Payment Selection and Change Payment Selection by Vendor windows in the Banking module. The value cannot be changed.
No. Entries Selected This field shows how many entries are selected for payment. Maconomy enters the value automatically. It cannot be changed.
No. of Entries Being Paid This field shows the number of entries being paid. The field is automatically completed by Maconomy and cannot be altered. An entry is under payment if it is included in a payment file created in the window Payment Files, or if a check has been printed out in the window Print Check. The entry is no longer under payment when it has been approved.

Bank Island

Field Description
Address In this field, you can enter the address of the company-specific vendor’s bank. It is used for electronic payment to foreign vendors.
SWIFT In this field, you can enter a SWIFT code. The SWIFT code is used for electronic payment to foreign vendors.

Pay to Vendor Island

Field Description
Pay to Vendor In this field, you enter a pay to vendor number, if the vendor who is to receive payment for deliveries is different from the one delivering the items. The pay to vendor number indicates the vendor to which payment is to be sent. The “original” (delivery) company-specific vendor is debited by the amount paid.

Payment might be directed to the Pay to Vendor if the delivery vendor uses a factoring company.

The Pay to Vendor is transferred from the company-specific vendor information card, but you can change the pay to vendor in this window.

Maconomy also shows the name and address of the Pay to Vendor. The information appears when you press Return. It cannot be changed here.

Balance Island

Field Description
Balance, Currency This field displays the company-specific vendor’s immediate balance in standard currency. The balance is updated when journals with entries for the current vendor are posted. The field is filled in automatically and cannot be changed.
Balance, Base This field displays the company-specific vendor’s balance in base currency. Maconomy updates the balance when you post journals with vendor entries. It cannot be changed.

Payment Control Island

Field Description
Block Payments If you mark this field, you block payments to the company-specific vendor. This means you cannot make a payment selection.

You can block payments if, for example, you wish to delay payment for a wrong delivery until it is corrected.

Marking of this field will also result in the resetting of payment selections created for the current vendor. Such payment selections can be inspected in the window Change Payment Selection by Vendor in the Banking module. For further information about payment selections, see the description of this window in the Banking module.

Payment Mode In this field, you select how you normally pay the company-specific vendor. The payment mode is used partly to point to a G/L account, partly to select which payment form to use and to control automatic payment. The payment mode is used when you register vendor invoices. It can always be changed on individual vendor invoices in the Vendor Invoices and Change Payment Selection windows in the Banking module.

When you approve a payment selection, Maconomy uses the vendor invoice’s payment mode to find the G/L account to which the payment will be posted, that is, from where payment is taken.

Payment modes are created in the window Payment Modes in the Banking module.

Pmt. Terms In this field, you enter which payment terms normally apply to the company-specific vendor. The payment terms are used to calculate the invoice due date when you enter vendor invoices.

Invoices are entered in the Vendor Invoices window.

Cash Discount Payment In this field, you can select a cash discount condition to be assigned to the current vendor. The selected cash discount condition is used by Maconomy when paying vendor invoices. If you do not select a condition, cash discount will not be calculated for the current vendor. Cash discount conditions are created in the pop-up type “Cash Discount Codes” in the window Popup Fields in the Set-Up module. Please see this window for further information on cash discount conditions.
Giro No. If the company-specific vendor is from a state country with a regional or national giro system, you can specify the vendor’s giro account number here. The information is for reference.
Reg. No. In this field, you can enter the company-specific vendor’s bank registration number. The number is used for reference and electronic payment.
Bank Acct. No. This is the company-specific vendor’s bank account number. The number is used for reference and electronic payment.
BACS No. In this field, you can enter the vendor’s number for automated clearing service. The number is used for reference and electronic payment.
CPC No. In this field, you can enter the company-specific vendor’s common payment card number, if applicable. The number is used for reference and electronic payment.
Card Type Code In this field, you can enter a card type code. The code is transferred to vendor invoices when they are entered. However, you can change it for individual invoices in the Vendor Invoices and Change Payment Selection windows in the Banking module. The code is used for electronic payment.
Payer Identification Here you can enter a payer identification. It is transferred to vendor invoices when they are entered. However, you can change it for individual invoices in the Vendor Invoices and Change Payment Selection windows. The identification is used for electronic payment.
Tax In this field, you specify whether to calculate tax on vendor invoices from this vendor on a normal basis. If you mark the field, Maconomy will automatically calculate tax for vendor invoices. You can, however, change the mark during invoice registration.

You should normally mark the field for vendors in your own country. The field should not be marked for vendors from other EU countries. You have to settle tax for items bought in other EU countries, but the tax is calculated rather than lifted from the invoice amount.

Company Tax Code In this field, you can specify a company tax code created in the window Popup Fields in the Set-Up module. The field is used by Maconomy for determining the tax code to be used in the calculation of tax for the current company-specific vendor, as the reporting code is part of the criteria for the selection of a G/L tax code in the window G/L Tax Tables if such table has been specified for the company responsible for the registration. The G/L tax code is specified for a company in the window Company Information in the G/L module. When selecting a tax code, Maconomy uses the tax table specified for the responsible company of the vendor invoice in the window Company Information. However, the tax code is only selected from a tax table if the company that is responsible for the current invoice is assigned to a tax table in the window System Information.

When posting entries, the reporting code is used for determining which tax report entries to create. Based on the tax report entries, you can create tax reports showing the tax and tax basis entries assigned to a given tax report field. However, this kind of reporting can only be made if extended tax reporting has been selected in the window System Information.

EU Trade Type In this field, you can enter either “Normal” or “Triangulation” to indicate the EU trade type. Triangulation means you act as agent for a vendor in another EU country and a customer in third EU country. Triangulation sales are not included in the EU sales part of the tax specification. The trade type can be changed during order processing.

Maconomy transfers the value to any item purchase orders you make to the vendor, but you can change it there.

Tax No. In this field, you enter the company-specific vendor’s tax number. If you have entered tax number validation rules for the vendor’s country in the window Rules of Validation in the Set-Up module, Maconomy will verify that the tax number complies with these validation rules.
Control Account The control account is a reference to two G/L accounts; that is, a Vendor control account and an account for non-balanced entries.

All vendor entries are posted to the General Ledger, to the control account referred to here. Accounts payable is thus a specification of A/P control accounts in the General Ledger.

You can use the control accounts to group your vendors in the General Ledger—for example, in foreign and domestic vendors.

The account for non-balanced entries is used to manage your accounts when item deliveries and invoices are not received at the same time. When you approve item deliveries to the warehouse, the inventory value account is debited and the nonbalanced entries account is credited. When the vendor invoices are registered at a later date, the items are credited to the Vendor control account and debited to the account for non-balanced entries. You thus avoid any accounting problems, when items are delivered in one posting period and the corresponding vendor invoice is received in another.

References to control accounts are maintained in the window Popup fields in the Set-Up module.

Responsible In this field, you enter the employee responsible for approving invoices from the company-specific vendor. The name is for reference and is used to sort lists of non-approved vendor invoices.

Responsible employees must be created as employees in the Maconomy system. Employees are created in the window Employees in the Set-Up module.

Non-approved vendor invoices are printed in the window Print Approval List.

This field also displays the name of the specified responsible employee.

Auto. Approval In this field, you specify whether invoices and invoice allocation lines from this vendor should be approved automatically. If the field is marked, all invoices from the vendor are automatically approved for payment. However, you can remove the mark for individual invoices. Invoices are paid in either the window Change Payment Selection by Vendor or the window Approve Payment Selection in the Banking module.