Enter Supplier Payment Information

Explanation

This activity is used to enter, change, and view supplier payment details. You can enter several payment methods, e.g., check and bank giro to be used when paying supplier invoices. If you are to pay the supplier by check, you can specify the default check recipient of the supplier. This can either be the payee or the payment institute and, it decides whose name and address will be printed on the check. You can also enter electronic payment addresses for each of the payment methods of the supplier. Specifying electronic payment addresses is not possible for all the payment methods and depends on the payment method chosen. You can also specify the interest template applicable to the supplier. You can allow netting between supplier and customer if both are part of the same company; you can also block a supplier for payment if necessary. It is possible to enter another payee who will receive payments if applicable.

You can also specify whether payment advice reports should be printed. When payment advice is payment format dependant, payment advice will be generated only if the conditions in the format is satisfied. By connecting AR supplier contact, it is possible to send some reports to supplier based on the connected output media.

Prerequisites

This activity requires that interest templates exist. There are default templates created at system startup and these can be modified. You can create new templates in the Interest Templates window and link them to the suppliers, if applicable.

Payment methods must also exist. You can define payment methods in the Payment Methods window.

Communication methods should be defined in the Supplier/Comm. Method tab

System Effects

The system effects of this entry depend on what is entered. Normally, the results are that payments can be made to either the supplier or other payee, by the payment methods that are specified.

• If the Netting Allowed check box is selected, nettings can take place between supplier invoices and prepayments and customer invoices and pre-payments, providing that netting has been agreed upon and that customer and supplier are part of the same company.
• If the One Invoice/ Prepayment per Check check box is selected, only one invoice / prepayment could be paid/ matched for the supplier, when using the check payment method.
• The value selected in the Check Recipient field will appear by default in all the installments created for the supplier.
• If payment advice is set to Depending on Format, reports will not be printed if there is no payment advice. Similarly, reports will not be printed when payment advice is set to No Advice.

Window

Supplier

Related Window Descriptions

Supplier, Supplier/Payment

Procedure

To enter supplier payment information:

1. Open the Supplier window, select the Payment tab.
2. Click New and enter values in the Company, Payment Priority, and, if applicable, Other Payee, fields.
3. Select Netting Allowed checkbox if netting is to take place.
4. Define an interest template for the supplier by accepting the default value suggested in the Interest Template field or select another one from the List of Values.
5. Select a value from the Payment Advice list to indicate whether payment advice should be used.
6. Select a value from the List of Values for the Confirmation Statement Template field if you want to specify/change the default confirmation statement template for the supplier.
7. In the Check Recipient field, select either Payee or Payment Institute as the default check recipient for the supplier. The selected value will appear by default in all the installments created for the supplier.
8. Save the information.

To enter AP supplier contact details:

1. Select the name of the AP supplier contact from the List of Values.
2. Select the output media type from the list. By default Printout will be selected.
3. Save the information.

To enter supplier payment method:

1. In the Payment Methods tab, go to the Payment Methods section and create a new record..
2. Select a payment method from the List of Values, and click OK.
3. Select the Default check box for the payment method that should be used by default for the supplier.
4. If you want an electronic payment address to be defined for a specific payment method, right-click on the payment method, and then click Electronic Payment Addresses. The Electronic Payment Address window for the supplier will be displayed.
5. Enter information about the electronic payment address in the relevant fields.
6. If you want to define payment method rule for the supplier, use the List of Values to specify a rule ID. 
7. Save the information.