Accounting Tab of Vendor Info Center

Use the Accounting tab to enter, edit, or review vendor accounting information.

This tab is available in the Vendor Info Center if you use Vision Accounting.

Contents

Field Description
Type Use this drop-down list to select the vendor type.

You set up vendor types on the Vendor Types tab of System AP Configuration. You then set up liability codes on the Liability Codes tab of Company AP Configuration. Each liability code is associated with an account number from your general ledger. You use the Vendor Types tab of Company AP Configuration to associate each vendor type with a liability code (and account number).

When you enter a vendor in A/P Vouchers Transaction Entry, Vision inserts the associated liability code for the vendor type in the A/P Liability field. The account number associated with the liability code receives the credit (implicit) when you post the A/P voucher.

You can change the default liability code during transaction entry.

If you use the Multicompany feature, vendor types are specified at the enterprise level. You can specify which vendor types are available to each company in your enterprise. You can also associate the available vendor types with different liability codes for each company. Only the vendor types you select for the active company display in the drop-down list in this field.

Payment Terms Use this drop-down list to select the default payment terms to use each time a voucher is entered for the vendor. Or, enter a numeric value directly in this field. For example, you can enter a priority vendor with payment terms of Next to ensure that all vouchers for the vendor are paid each time that you process A/P payments.

The options are:

  • Next — Select this option for payment for any outstanding vouchers to process with the next payment processing run.
  • Hold — Select this option for to put payment for any outstanding vouchers on hold until you manually change the payment terms.
  • Pay When Paid (PWP) — Select this option for payment for any outstanding vouchers to process with the payment processing run immediately following your company's full receipt of payment (from the client) for the jobs associated with the vouchers.
  • Numeric Value — Select this option for payment for any outstanding vouchers to process with the first payment processing run after the specified number of days have elapsed from the date the invoice was generated. For example, if you enter 15 in this field, invoices generated on October 1st will be paid when you process payments on or after October 16.

The default payment terms you enter in this field override the default payment terms selected on the Accounts Payable tab of Company AP Configuration.

Regular Account Enter the account number that receives the debit (explicit posting) when you post vouchers to a regular project for the vendor. This account must be a direct or reimbursable expense account.

You can enter an account number directly in this field, use the Quick Find feature to select an account from your database, or click Search in this field and select an account on the Account Lookup.

The account number you enter in this field displays in the Account field in A/P Vouchers Transaction Entry. You can override this account number when you enter a voucher line.

OH Account Enter the account number receives the debit (explicit posting) when you post vouchers to an overhead or promotional project for the vendor. This account must be an indirect expense account.

You can enter an account number directly in this field, use the Quick Find feature to select an account from your database, or click Search and select an account on the Account Lookup.

The account number you enter in this field displays in the Account field in A/P Vouchers Transaction Entry. You can override this account number when you enter a voucher line.

Default Expense Code Use this drop-down list to select the expense code that serves as the default when you enter an A/P voucher or A/P disbursement for the vendor in Transaction Entry. This drop-down includes all expense codes defined on the Expense Codes tab in Configuration > Accounting > System AP.

You can override this value in Transaction Entry. If you do not select a value in this field, no default value displays in Transaction Entry.

If you use the Multicompany feature, you can select a default expense code for each individual company. In Transaction Entry, the expense code will default based on the vendor accounting record matching the project's company.

Discount Pct Enter the percentage of the total voucher amount that you want to credit to the discount account when you pay the total amount due within the specified discount period. For example, enter 10.00 for a 10% discount.
Discount Pd Enter the number of days that the discount applies.
Discount Code Use this drop-down list to select a discount code for the vendor.
1099 Req Select this check box if the vendor should receive a 1099 form at the end of the calendar year.
Federal ID Enter the 11-digit number assigned to the vendor by the federal government for tax purposes. If the vendor is a consultant, this number is usually the consultant's Social Security number. You must enter a Federal ID number for all vendors who receive a 1099 form. This ID number displays on the printed 1099 form.
Type of TIN Use this drop-down list to select the type of TIN (tax ID number) of the vendor. The options are:
  • 1 — FEIN
  • 2 — SSN, ITIN, ATIN
Paid This Year This field displays the amount paid to this vendor during the current calendar year. You can enter a new amount in this field to override the system-generated amount.

The amount in this field excludes credit card payments made to a vendor in A/P Disbursement Transaction Entry. This follows the federal requirement that a company is not responsible for reporting amounts paid by credit card.

When you run the 1099 Initialization utility (from the Vision Utility menu), Vision moves the amount out of the Paid This Year field and puts it in the Paid Last Year field.

Paid Last Year This field displays the amount paid to this vendor in the previous calendar year. You can enter a new amount in this field to override the system-generated amount.

The amount in this field excludes credit card payments made to a vendor in A/P Disbursement Transaction Entry. This follows the federal requirement that a company is not responsible for reporting amounts paid by credit card.

When you run the 1099 Initialization utility (from the Vision Utility menu), Vision moves the amount out of the Paid This Year field puts it in the Paid Last Year field. The amount in the Paid Last Year field prints in the Nonemployee compensation box on a 1099 form.

Separate Checks Select this check box to print a separate check for each voucher submitted by the vendor.

If you do not select this check box, when you process payments (checks), Vision totals all the vendor's vouchers currently scheduled for payment, and then prints one check for the total amount owed to the vendor.

Account Number Enter your vendor-assigned account number. This is your customer number that your vendor uses to identify your account.
Default Tax Code This field displays only if you select the Enable Tax Auditing Feature check box on the Tax Auditing tab in Configuration > Accounting > Company Settings.

From the drop-down list, select a default tax code to use in Transaction Entry to calculate taxes for accounts payable vouchers and accounts payable disbursements for this vendor. When you enter an A/P voucher or A/P disbursement, you can change the default tax code as needed.

The drop-down list in the Default Tax Code field displays only the tax codes with an active status that have the Transaction Entry check box selected on the Tax Codes tab in Configuration > Accounting > Taxes.

When you enter an A/P voucher or A/P disbursement in Transaction Entry, the default tax codes that are on the New File dialog box are used to calculate the taxes for each voucher or disbursement in the transaction file. (The default tax codes on the New File dialog box prefill from the Tax Auditing tab in Configuration > Accounting > Company Settings.) However, if you enter a default tax code for a vendor, the vendor's default tax code will be used as the first tax code to calculate the tax for a voucher or disbursement instead of the default tax code that has the first (or lowest) sequence number from the New File dialog box.

Example: A vendor's default tax code entered in the Vendor Info Center is XXX. The default tax codes that are entered on the Tax Auditing tab in Accounting Company Settings that prefill on the New File dialog box are AAA (with sequence 5), BBB (with sequence 30), and CCC (with sequence 45). Tax code XXX from the vendor record will override tax code AAA (with sequence 5, the lowest sequence number) when A/P vouchers and A/P disbursements are entered in the Transaction Center for that particular vendor. The tax codes used for the transactions for that vendor are XXX, BBB, and CCC.

If no tax codes are entered on the New File dialog box in Transaction Entry and a vendor has a default tax code entered in the Default Tax Code field in the Vendor Info Center, the default tax code from the Vendor Info Center is used to calculate taxes for the A/P voucher and A/P disbursement. You can override this tax code when you enter an A/P voucher and A/P disbursement as needed.

Purchasing Section

Field Description
Match Method From the drop-down list, select the matching method to use to generate A/P vouchers from purchase orders for this vendor. This field displays if you use Vision Purchasing.

The options are:

  • 2-Way Match — When you select this method, the purchase order must match an existing invoice for Vision to generate an A/P voucher.
  • 3-Way Match — When you select this method, the purchase order and the matching invoice must also match a receiving record for Vision to generate an A/P voucher.

The method that you select becomes the default setting for the vendor. You can change the default setting when you create an A/P voucher from a purchase order.

RFQ/PO Template From the drop-down list, select a custom RFQ/PO template for the vendor. This field displays if you use Purchasing.
  • PO Template — Vision looks first at the employee record of the buyer to find a template. If no template is assigned to the buyer, Vision looks at the vendor record. If no template is assigned to the vendor, Vision uses the _DEFAULT template.
  • RFQ Template — Vision looks only at the vendor record to find a template. If no template is assigned to the vendor, Vision uses the _DEFAULT template.
Contact Click in this field and select a contact (from the Contact Info Center) to use as the default contact for purchase orders that are entered for this vendor. The contact's name that you enter here prefills in the Contact field in the Vendor section on the General tab of the Purchase Orders form.
On a purchase order:
  • You cannot change the prefilled contact name.
  • The contact name displays as a hyperlink that opens the contact record in the Contact Info Center when you click it.
  • The contact's name and email address (if one is entered for the contact in the Contact Info Center) print in the To section of a purchase order.

The contact's name that you enter in this field also prefills for an equipment item that is created automatically from a line item on a purchase order. The contact name prefills in the Vendor Contact field on the Purchase Order tab of the Equipment form in the Equipment Info Center.

Check Box

Field Description
Approved for use in processing for company XX If you use the Multicompany feature, you make vendors available for accounting at the company level. This means that you can enter accounting information for each vendor on a company-by-company basis.

After you enter accounting information for the active company, you can save your changes and use the Change Company utility to select another company and enter that company's accounting information for the same vendor.

To do this, select Utilities > Change Company from the Vision main menu and select the company for which you want to enter accounting information. Then open a vendor record and select the Approved for use in processing for company XX option to enable all the accounting fields. If you do not select this option, only the Type and Federal ID fields are enabled.

EFT Section

Use the EFT (Electronic Funds Transfer) fields to set up bank account information that allows you to remit A/P payments directly to the vendor's bank, rather than print checks.

Field Description
Bank ID Enter the bank routing number of the bank to which funds will be deposited when you process an A/P payment for the vendor. This field does not display if you select the ClieOp check box in this section.
Account Number Enter the bank account number into which funds will be deposited when you process an A/P payment for the vendor.
ClieOp Select this check box to specify that a vendor will be paid by ClieOp transfers, which are most frequently used for payments made in Euros to recipients in the Netherlands.
When you select ClieOp, the EFT options change as follows:
  • The Bank ID, Status, and Addenda fields do not display.
  • The Account Type drop-down list options are Ordinary Account and Seven Digit Account.
    • If you select Ordinary Account in the Account Type field, enter the vendor's bank account number in the following format: xxx.xx.xx.xxx.
    • If you select Seven Digit Account in the Account Type field, enter the vendor's seven-digit bank account number.
Account Type Use this drop-down list to select the account type (Checking or Savings) for the account entered in the Account Number field.
Status Use this drop-down list to select a status for the vendor's EFT account.

The options are:

  • Add — This status indicates that you plan to initiate the pre-notification step for this EFT account with the next AP Payment Processing run.
  • Wait — After you process A/P payments, any EFT accounts with a status of Add change to a status of Wait. This status indicates that you are waiting for bank verification of the vendor's account. You must change the status to Active when you receive verification of the vendor's account information.
  • Active — This status indicates that the vendor's account information has been verified and your bank has approved EFT transactions to the account.

This field does not display if you select the ClieOp check box in this section.

Remittance Select this option to indicate that the vendor requires a printed copy (remittance advice) of the transactions in the EFT file.

You print the remittance advice in Accounting > Accounts Payable > Payment Processing.

EFT Email Enter a contact's email address in the field, or click and select an address from the Contact Lookup list.

To access this field you must select Email Remittance in the Remittance field.

Addenda Select this check box to create an addenda record that will be written to the bank file immediately following the EFT entry detail record.

The addenda record is written in the ACH CCD Addenda Record format and contains the following data:

Record Type Code = "7"

Addenda Type Code = "05"

Payment Related Information (80 bytes) is a collection of 10 fields:

  1. "RMT*IV*"
  2. "                    " (20 bytes — Vendor Invoice Number or the word "Multiple" if the vendor gets a single payment for multiple invoices.)
  3. "*"
  4. "nnnnnnnn.nn-"  (Payment Amount)
  5. "*"
  6. "nnnnnnnn.nn-"  (Gross Payment Amount)
  7. "\DTM*003*"
  8. "YYMMDD"  (Invoice Date)
  9. "\"
  10. "           "  (11 spaces)

Addenda Sequence Number = "0001"

Entry Detail Sequence Number = "nnnnnnn" (Trace Number)

This field does not display if you select the ClieOp check box in this section.

SEPA Section

These settings apply if you make accounts payable payments to vendors using export-to-text files with the SEPA file format. The SEPA (Single Euro Payments Area) .xml file format is commonly used in the Netherlands.

Field Description
IBAN Enter the international bank account number (maximum 34 characters) for a vendor. This is used to transmit the payment to a payee when the .xml file is sent to the bank.
BIC Enter the bank identification code (either 8 or 11 characters) for a vendor. This is used to transmit the payment to a payee when the .xml file is sent to the bank.

Wires and Direct Debits Section

Use these fields to set up the vendor’s banking information for storing with wire or direct debit payments. This information is also available for reporting purposes. You must select the Approved for use in processing for company XX check box to access these fields.

Field Description
Bank Information Enter the name and address of the vendor’s bank to which wires are sent, or from which direct debits originate. Click Ellipsis to access the Vendor Bank Name and Address dialog box. On this dialog box you can enter the bank name and additional address information.
Bank ID Type This field identifies the type of bank identifier that is entered in the Bank ID field. Use the drop-down list to select a value, such as ABA/Routing. Vision administrators can edit this list in Code Tables Configuration.
Bank ID Enter the vendor’s bank identification number in this field.
Account ID Type This field identifies the type of account number that is entered in the Account ID field. Vision administrators can edit this list in Code Tables Configuration.
Account ID Enter the vendor’s account identification number in this field.

Memo text box

Enter any notes regarding the vendor's accounting information.

Click Edit to use the Text Editor to enter information.