Payables Configuration

Note: Don't see this? If all goes well based on feedback and usage, expect its wider release in a future update.

Payables configuration settings help you define settings and features to customize Payables. For example, you can adjust settings to increase the efficiency of your record keeping and improve data entry.

To configure settings for Payables, navigate to Payables, Settings.

Note: The options that appear under Settings are based on the user’s permissions .

Define specific default information for your organization, such as country, address, city, state, ZIP code, phone number, and federal tax identification number. This information appears on printed documents and correspondence.

To distribute 1099 information by states, define the states and state IDs. You cannot designate state 1099 distributions on records such as invoices and credit memos until you have defined them here.

Track accounts payable invoices to determine if they are current or overdue and by how many days they are overdue. For more information, see Aging Info .

Define payment terms for invoices so you can pay them early and receive discounts. For example, if your cell phone service provider gives a 2% discount if you pay your bill within 10 days, you can easily track your payments to ensure you receive the discount.

With payment terms, you can designate the number of days until a payment is due and record the percentage of discount you receive if the payment is made within a certain number of days.

From Addresses, you can manage addresses, including contact names and phone numbers. You can also designate how the address looks when printed. You use these addresses as defaults for completing your organization’s addresses as you want them to appear on correspondence.

From Default Accounts, you can designate specific accounts to use in distributions. You can set default accounts that automatically balance by fund and segment when you enter debit accounts, or you can specify an account hierarchy with a primary default account and several secondary default accounts to use in certain circumstances. For more information, see Payables default account settings.

When you create a purchase order, you can enter line items, an individual charge for an item such as a product or service. There are three line item types:

  • Quantity/price (formerly regular line items) – Quantity/price line items are based on price and quantity for goods and services.

  • Flat amount (formerly miscellaneous line items) – Flat amount line items have a fixed price.

  • Comment – Comment line items are useful for attaching information to a purchase order. For example, if an item cannot be backordered, you could create a comment line item stating “No Backorders”.

From Flat amount line items, you can add default flat amount line items, such as freight charges and local sales taxes, to quickly select them when you create purchase orders.

You can add line item distribution information when you add a line item and select to edit its details. For more information, see Line Item Distributions.

Note: When you enter line item distributions and apply them to purchase orders, the PO Encumbrance credit account automatically becomes the default credit account.