Supplier - Payables Financials Options
The options you define in the region, except for Receipt Acceptance Days, are used as default values for the Payment region of the Suppliers window. The supplier values default to new supplier sites for the supplier, which default to new invoices for the supplier site. You can override these values during entry of the supplier, supplier site, and invoice.
Payment Terms. Payables uses payment terms to automatically calculate due dates, discount dates, and discount amounts for each invoice you enter. If the terms you want to use are not on the list of values, you can define additional terms in the Payment Terms window. See: Scheduling Invoice Payments.
Payment Method. The invoice payment method you use most frequently. See: Defining and Maintaining Payables Payment Documents.
- Check. You can pay with a manual payment, a Quick payment, or in a payment batch.
- Clearing. Used for recording invoice payments to internal suppliers.
- Electronic. You generate an electronic payment file that you deliver to your bank to create payments.
- Future Dated. Used to create payments with a future date that instructs your bank when to disburse funds to your supplier's bank. For example, a Bill of Exchange.
- Manual Future Dated. Used to disburse funds to a supplier who sends you an invoice with a payment notice attached. You approve the supplier's payment notice, which includes a future payment date, and send it to your bank.
- Wire. Used to manually record a wire transfer of funds between your bank and your supplier's bank.
Receipt Acceptance Days. If you create interest invoices for late payment, enter the number of days in your receipt acceptance period. If you enable the Recalculate Scheduled Payment Payables option, Approval recalculates your invoice due date based on this value. See: Interest Rates.
Always Take Discount. Enable this option to have Payables always take an available discount for a supplier, regardless of when you pay the invoice. See: Discounts.
Pay Alone. If an invoice has the Pay Alone option enabled, Payables creates a separate payment for each invoice. If the Pay Alone option is not enabled for an invoice, the invoice will be paid with other invoices for the same supplier site on a single payment.
