Enter Supplier Payment Information
Explanation
This activity is used to enter, change, and view supplier payment details. You can enter
several payment methods, e.g., check and bank giro to be used when paying supplier
invoices. If you are to pay the
supplier by check, you can specify the default
check recipient of the supplier. This can
either be the payee or the payment institute
and, it decides whose name and address will be printed on the check. You can also enter electronic payment addresses
for each of the
payment methods of the supplier. Specifying electronic payment addresses is not
possible for all the payment methods and depends on the payment method chosen.
You can also specify the interest template applicable to the supplier.
You
can allow netting between supplier and customer if both are part of the same
company; you can also block a supplier for payment if necessary. It is possible to enter
another payee who will receive payments if applicable.
You can also specify whether payment advice reports should be printed. When
payment advice is payment format dependant, payment advice will be generated
only if the conditions in the format is satisfied. By connecting AR supplier
contact, it is possible to send some reports to supplier based on the connected
output media.
Prerequisites
This activity requires that interest templates exist. There are default
templates created at system startup and these can be modified. You can create
new templates in the Interest Templates
window and link them to the
suppliers, if applicable.
Payment methods must also exist. You can define payment methods in the
Payment Methods
window.
Communication methods should be defined in the Supplier/Comm. Method
tab
System Effects
The system effects of this entry depend on what is entered. Normally, the results are
that payments can be made to either the supplier or other payee, by the payment
methods that are specified.
- If the Netting Allowed
check
box is selected, nettings can take place between supplier invoices and prepayments and
customer invoices and pre-payments, providing that netting has been agreed upon and that
customer and supplier are part of the same company.
- If the One Invoice/ Prepayment per Check check box is selected,
only one invoice / prepayment could be paid/ matched for the supplier, when
using the check payment method.
- The
value selected in the Check Recipient field will appear by default in all
the installments created for the supplier.
-
If payment advice is set
to Depending on Format,
reports will not be printed if there is no payment advice. Similarly,
reports will not be printed when payment advice is set to
No Advice.
Window
Supplier
Related Window Descriptions
Supplier, Supplier/Payment
Procedure
To enter supplier payment information:
- Open the
Supplier window, select the
Payment
tab.
- Click New and enter values in the Company,
Payment Priority, and, if applicable, Other
Payee, fields.
- Select Netting Allowed checkbox if netting is to take place.
- Define an interest template for the supplier by
accepting the default value suggested in the Interest Template
field or select another one from the List of Values.
- Select a value from the Payment Advice list to
indicate whether
payment advice should be used.
- Select a value from the List of Values for the
Confirmation Statement Template field if you want to specify/change the
default confirmation statement template for the supplier.
- In the Check Recipient field, select either
Payee or Payment Institute as the default check recipient for the supplier.
The selected value will appear by default in all the installments created
for the supplier.
- Save the information.
To enter AP supplier contact details:
- Select the name of the AP supplier contact from the List of Values.
- Select the output media type from the list. By default Printout
will be selected.
- Save the information.
To enter supplier payment method:
- In the Payment Methods tab, go to the Payment Methods
section and create a new record..
- Select a payment method from the List of Values,
and click OK.
- Select the Default check box for the payment method that
should be used by default for the supplier.
- If you want an electronic payment address to be defined for
a specific payment method, right-click on the payment method, and then click Electronic
Payment Addresses. The Electronic
Payment Address window for the
supplier will be displayed.
- Enter information about the electronic payment address in
the relevant fields.
- If you want to define payment method rule
for the supplier, use the List of Values to specify a rule ID.
- Save the information.