Exact Globe+

Creating and maintaining accounts payable - Financial tab

Menu paths

Finance ➔ Accounts payable ➔ Maintain
CRM ➔ Accounts ➔ Maintain accounts

Introduction

The following screen is displayed when you click the Financial tab at the accounts payable maintenance page.

What version are you using?

The information in this document is based on product update 422.

How do I create an account payable - Financial tab?

From the Maintain accounts page, click New.
Select Suspect, Reseller, Supplier, or Associate.
Fill in the required fields, and click Save.

Keep in mind:

All fields with the “!” icon are mandatory.

How do I edit an account payable - Financial tab?

From the Maintain accounts page, you can filter the accounts that you want to display by defining one or more of the following criteria and click Search or an account from the overview to be edited and click Open.
Edit the account, and click Save.

Fields

General section

Currency

Type or select the currency used for the purchase transactions such as purchase orders or purchase invoices for the creditor. The currency you specify here will take precedence over the journal settings. For more information, see Selecting Currency.

Creditor account

Type or select a creditor control account. When you create or process the purchase invoice transactions, the system will use this control account. The creditor control account you specify here will take precedence over the creditor control account from the purchase journal specified at System/Finance/Journals. For more information, see Selecting General Ledger Account.

Note: The creditor control account that you specify here must match with the creditor control account of the selected purchase journal specified at System/Finance/Journals. The system will not allow you to proceed with creating the purchase transactions if the control accounts do not match.

Extra description

Type or select an extra description code for the creditor. For more information, see Selecting Extra Description.

Automatic matching

Select this check box for the system to automatically match the unmatched statements to the general ledger account (based on the Offset account defined) when you import the bank statements. The Offset account is mandatory when this check box is selected.

Note: This check box is available if you have the Electronic Banking module.

Offset account

Type or select an expense general ledger account that is used as an offset account when you post transactions. For more information, see Selecting General Ledger Account. This is mandatory when you select the Automatic matching check box.

Payment condition

Type or select a payment term for this creditor. The payment term you specify here will take precedence over the Payment condition: Creditor specified under the Default section at System/General/Settings/General ledger settings. For more information, see Selecting Payment Condition.

Bank account

Type or select a standard bank account for this creditor. This is mandatory for electronic banking. For more information, see Selecting Bank Account.

Layouts

Click to select and determine the default Purchase order form layout for this creditor.

Group Payments

Select this check box to group payments to this creditor.

Chamber of Commerce number

Type the creditor's chamber of commerce number if applicable. A Chamber of Commerce is an association of business persons for the promotion of commercial interests in the community.

Purchase section

Shipping via

Type or select a default shipping method to be used for this creditor. For more information, see Selecting Default Shipping Method.

Pricelist/Discount (%)

Type or select a price list for the creditor. This is useful when you have an agreement with the creditor on discounts and bulk buys. For more information, see Selecting Price List. In the box next to Pricelist, type the percentage of discount you want to allocate to this creditor.

Code at supplier

Type your code that is used for purchases at this particular creditor.

Intrastat

Click to display the Maintain: INTRASTAT settings screen. In this screen, you can select and save information such as the city of loading/unloading, shipping method, transportation, transshipment, and others for the particular creditor.

Confirm prices

Select this check box if you want this same check box selected in the Condition screen of purchase orders and Return to Vendor (RTV) orders.

Acknowledge order

Select this check box if you want this same check box selected in the Condition screen of purchase orders and Return to Vendor (RTV) orders.

Incoterm

Type or select an Incoterm. Your selection here will default to the Condition screen of purchase orders and Return to Vendor (RTV) orders. For more information, see Creating and Maintaining Incoterms.

Incoterm code

Type or select an Incoterm code. This is enabled only if an Incoterm is selected at Incoterm. Your selection here will default to the Condition screen of purchase orders and Return to Vendor (RTV) orders. For more information, see Creating and Maintaining Incoterms.

Specific section

Payee name

Type a payee name for this creditor if there is a specific name to be used for check issuance. If not, the name of the creditor will be used.

VAT section

Private person

Select this check box to indicate that the account is considered a private person dealing in ecommerce. This is specific for One Stop Shop usage. For more information, see Exact Globe and One Stop Shop (OSS).

VAT number

Select a VAT (value-added tax) to specify whether you want to allocate VAT to the creditor. Below are the available options:

Exempted — Creditor is exempted from paying VAT.
Liable to pay VAT — Creditor is liable to pay VAT.
Not liable to pay — Creditor is not liable to pay VAT. The VAT number is disabled when you select this option.

Type the VAT number of the creditor if they are exempted or liable to pay. VAT number is an identification for the tax authority on the creditor who received the VAT. It is a number used for VAT collection by the tax authority.

Tax exemption number

Type the tax exemption number of the creditor.

Check date

Type or select a check date for the VAT.

Note: This date indicates the creation date of the VAT code.

Tax

Type or select a standard VAT code for this creditor. For more information, see Creating and Maintaining Tax Codes.

/

Click to prevent the VAT code from being modified in the posting lines and to allow for changes.

Multiple taxes

Click this to display the Tax schedule screen. For more information, see Creating and Maintaining Tax Schedules.

Payment days section

Type the amount of days at this section. The due date for sales invoices will be calculated based on the amount of days defined at the Payment days section.