Using Accounts Payable

Understanding Vendor DemographicsFor example, General Computer Sales may be only one of several companiesowned by the same person, and you may be asked to make checks out to aname such as “JHL Enterprises, Inc.” In this example, “General ComputerSales” might be the formatted name for purchase orders, and “JHLEnterprises, Inc.” the formatted name for checks.You also might need a different name format for some of your vendors(particularly individuals and independent contractors who use their givenname in business) when you print a directory. You could enter names for adirectory listing with the format “Last First Middle.” In addition,for processing 1099-MISC forms you might want to use the formatted nametype “TN” which has been created expressly to format vendor names for thispurpose.For vendors, you normally need to define only two formatted names, one forpurchase orders and one for AP checks. Your choices for formatted names aretaken from the name types defined in the Core FORMATTED.NAME.TYPEScode table. You can change the codes in the FORMATTED.NAME.TYPEScode table if you need to add a new name format. Examples of formattedname types include:• CK — AP Check• V — Vendor (could be used for vendor reports and registers)• PO — Purchase Orders• AR — Accounts Receivable• TN — 1099 or T4A FormsWhen you create a formatted name type on the FNM form, you should enterthe exact wording of the name that should appear whenever the selectedformatted name type is used.Note: If you need to enter a formatted name that carries over to asecond line on the FNM form, enter the same formatted name type forthe second line in the window as for the first line. All occurrences of thesame name type will be used to create the name, even if they do notappear one behind the other in the formatted names listing.Vendor AddressesColleague lets you enter as few or as many addresses as you need on a vendorrecord. Many vendors will need only one address. Others, especially largecompanies, will require several addresses.Using Accounts Payable, June 19, 2009 55© 2009 Datatel, Inc.