81205-06 Vendor creations, groups, posting and item profile

Vendor Creation

Vendors are the organization or person who provides goods or services and are part of Accounts payable module and use the process of procurement module.

The important options can be set during vendor creations:

  • Organization or person type
  • Vendor group read more below
  • Address
  • Contact details
  • Misc details: buyer group, credit rating, vendor on hold option, inter-company
  • Vendor profile for reporting: Bid only, woman owner, locally owned, etc.
  • Purchasing demographic: Currency, line of business, segment
  • Invoice and delivery: Invoice account if different entity is required for billing,  delivery terms, inclusive tax option
  • Purchase Order Defaults: Charges group read in different course, site, warehouse, specific change management for workflows, discounts.
  • Payment: Terms, method, specification, cash discount, bank account.

Vendor Groups

The grouping of similar business or requirements of multiple vendors. Example: grouping all vendors related to vendors to see vendors transaction reports.

Default setup options:

  • Terms of payment
  • Time between invoice due
  • default tax group
  • exclude from search

Posting Profile

Vendor group is used to segregate ledger posting accordingly. Example: Vendor group all must must post to A/P general trade and subcontractors to different ledger account.

Note: This is not used for linking account for Prepayment option

Item posting profile

Vendors when used in purchase on any other module rather than direct billing we can control where data is posted to which ledger account at different stages like:

  • Cost of purchased received
  • Purchase expenditure, uninvoiced
  • Cost of purchase material invoiced
  • Purchase expenditure for product
  • Discount
  • Charge and many more.

See Purchase item posting profile in details

 

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