Using Accounts Payable

Understanding VendorsFigure 6: Fields on the VEND Form That Default onto Procurement DocsFields that defaultonto Purchasing/APdocumentfront sheetsFields that default ontoPurchasing/AP line itemsThe following subsections describe each of the fields you can set up to defaultinto your purchasing documents, with a brief discussion of the considerationsto keep in mind when deciding how to complete these fields on the VendorMaintenance (VEND) form.Vendor TermsWhen you enter discount terms on a purchasing document, the terms carryforward to all other purchasing documents involved in that purchase andallow Colleague to calculate your term discount for that purchase.If you have linked discount terms to a vendor’s record, the terms appearautomatically on each requisition, purchase order, and voucher you create forthat vendor. When the vendor’s invoice is received in your office, and youcreate the voucher, Colleague looks at the Invoice Date you enter on thevoucher and calculates the date by which you must pay the voucher to receivethe discount.You can enter as many vendor terms codes in a vendor’s record as you want;the first one you enter will default onto purchase documents for that vendor.Vendor terms are defined on the Vendor Terms (VTMF) form. For moreinformation see the Getting Started with Purchasing and Accounts Payablemanual.Using Accounts Payable, June 19, 2009 47© 2009 Datatel, Inc.