How do I Maintain Supplier (Vendor) Master Records?

Setting up your Suppliers (Vendors) in the System together with their attributes.

Written By Grainne Reidy (Super Administrator)

Updated at July 11th, 2022

Introduction

To process transactions through your Purchasing System, first set up your Supplier (Vendor) Master Records. As you engage with new Suppliers (Vendors), record their details in the system. As these records contain static information, such as contact details, you can update them, as necessary.

Prerequisite information tables

The Supplier (Vendor) Creation and Maintenance Program has a selection of prerequisite information tables:

  • Currencies
  • Tax
  • General Ledger Codes
  • Bank Accounts

Optional information tables

The system provides Financial Reporting for the whole company, as well as component parts such as Divisions and Departments. Only set up the related tables if you use Business Intelligence (Departmental Analysis), and Reporting.


The system also provides for Company and Departmental Budgeting, and Budget Holders. This optional workflow module allows purchasing approval against a budget.

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Add Edit Supplier Account

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Adding, editing, and deactivating Supplier (Vendor) records

To add a new Supplier (Vendor):

  •  Go to Purchases > Suppliers > New Supplier


To edit Supplier (Vendor) details:

  • Go to Purchases > Suppliers. In the grid, click on the Supplier (Vendor) code and edit.


To deactivate Supplier (Vendor) details:

  • Go to Purchases > Suppliers > Account Details. Untick Active.
     

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Account Details

The highlighted fields come from the Defaults Table, but you can override them by selecting different values.



1. In Supplier Account complete the following:

  • Code: This must comprise alpha and numeric characters with no spaces or special characters. If you leave it blank, the system will automatically create a code. 
  • Currency Code: Supplier Accounts can only have one currency. If Supplier Invoices are in multiple currencies, set up a Supplier Account for each currency.  You cannot change the currency code once you begin adding transactions against the account.  
  • Bank GL Account: This is your default bank account for making payments to this Supplier (Vendor). You can change it in Payments and Allocations, but not in Batch Payments.
  • Account On Hold: Set this if you have a problem with the Supplier (Vendor). You will not be able to process the deliveries for previously raised orders. 

 

2. Click Save.

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Account Settings

The highlighted fields come from the Defaults Table, but you can override them by selecting different values. However, once you have added transactions against the account, you can no longer override GL Account or Control GL Account.   


1. In Account Settings complete the following:
Ledger Settings

  • GL Account: Specify a default General Ledger Account (Cost Account) to post purchases from the Supplier (Vendor). You can override the GL Account during transactions.  Batch Purchase Order Invoicing uses this default appears while Item Invoices use the Item defaults.
  • Control GL Code: Use a selection of these if you are separating Creditors by type. This cannot be changed when posting a Purchase Invoice or after a transaction is entered against the account. 

 

Delivery Settings

The Delivery Settings contain all the entries you set up in the Codes Tables. You can add new entries to any of these tables from here. 


Account Dimensions

The following Account Dimension fields enable a summary analysis of Purchase data:

  • Area
  • Account Group
  • Analysis Code (You can change this at the transaction stage for this Supplier (Vendor).) 

These fields are optional. Purchase Analysis Reports and the Excel Add-in tool can use these dimensions as selected criteria.

Purchase Ordering

This is optional. It flags the account as Order Required. This means that this Supplier (Vendor) must enter a Purchase Order before invoices can be processed in the system.


Purchases Approval

This is optional. It flags orders and invoices as Exclude from Approval or Default Approver. Exclude from Approval means that the Supplier (Vendor) bypasses the approval process. 


2. Click Save.

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Finance Settings

The highlighted fields come from the Defaults Table, but you can override them by selecting different values: 


 

1. In Finance Settings, complete the following:


Bank Details

  • Enter the Supplier (Vendor) bank details for use in batch payments. If you have Create New Supplier access, you can enter the Supplier (Vendor) Bank Details. However, you need to be an Admin user to change them thereafter. 

Payment Details & Credit Terms

  • Credit Terms: Credit Terms come from the Codes Table. They determine when an invoice is due for payment. Suggest Payments in the Supplier Payment Manager uses the Credit Terms and invoice date to suggest invoices to include in a payment run. 
  • Credit Limit: This is the maximum amount of credit the Supplier (Vendor) provides. This is checked during order and invoice processing. 
  • Payment Method: This is the format of a file of payments for transactions to a Supplier (Vendor). It comes from the Codes Table and EDI File Type. To use this facility, contact your system provider. They can specify your format if it is not already available.

Pricing & Discount Settings

  • Discount: This is the discount amount the Supplier (Vendor) extends. It is in decimal format, for example, 15% is 0.15.
  • Franchise: This is only relevant when setting up Franchisor/Franchisees. 

Tax Settings

  • Default Tax Code: This tax code is the default in Supplier (Vendor) Batch Invoicing. You can override this code during the transaction entry stage.
  • Use Tax Code: Tick this box to use the foregoing tax code and rate, even for product-related invoices. You can still override it during transaction entry.
  • Contractor Tax Code: You can enter the Contractors Tax Code for reference purposes and then use it in a report. 


2.Click Save.

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Contacts

To add a new contact:

  1. Click on New Contact and fill in the required information. Use Set Primary Contact to set a default contact for sending Supplier Purchase Orders or Supplier Statements.  

     
  2. Click Save.
     

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Notes

To add a new Note: 

  1. Click on Add New Note and complete the Note.
     
  2. Click Save. The note is saved with the name of the author and the creation date. 
     

 

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Custom Fields

You can set up ten custom fields. To hold custom data against each Supplier (Vendor):

 

1. In Custom Fields, click New Custom Field

 


2. Complete with the appropriate details. 


3. Click Save

 


4. A selection of Actions is available.

 

 

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Attaching Documents to a Supplier Account

You can attach documents, images, and other objects to the Supplier’s (Vendors) Master Record, such as:

  • Terms and Conditions
  • References
  • Letters of Credit
  • Voice Mail 

Click on the paper clip symbol displayed next to Attach Document.

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