Setting Accounts Payable Options
Accounts Payable options are system wide options that govern how the Accounts Payable module functions. When setting Accounts Payable options, you set options such as your default accounts payable account, the cash account from which you typically pay your vendors, and if you would like to allow vendors to send you duplicate invoice numbers.
You can also use Accounts Payable options to configure your electronic funds options, if any. You can use e-automate to create an electronic funds transfer (EFT) file for your configured vendors. Before you can use a vendor and create an EFT file, you must first configure the vendor to be used as an EFT vendor. You must also send a pre-notification file to the vendor for testing. You can use e-automate to create the pre-notification file. Once you have created your pre-notification file, e-automate waits the specified number of days, and then activates the vendor for EFT transactions. ACH rules state that you cannot send EFT payments before six banking days have elapsed following a pre-notification. If there is an issue with the pre-notification you can edit the vendor, and modify your active as of date to allow time to resolve issues that arise during the verification process.
From the Tools menu, select Options to open the Options window.
In the left pane of the window, click on Accounts Payable.
Enter the appropriate information.
See below for field descriptions.
Accounts payable account: Default accounts payable general ledger account.
Note: This account should be an accounts payable account type.
Unapplied payment account: General ledger account to which unapplied payments (payments that are not applied to a specific invoice) are posted.
Note: An unapplied payment account is used when you pay a vendor but do not apply the payment to an invoice. This may be for pre-payments. This account should be an accounts payable or current liabilities account type.
Cash disbursement account: Cashbook account from which vendor payments are typically made.
Note: A cash disbursement account is used when you pay vendors. You can only select cashbook (reconcilable) accounts.
Terms discount account: General ledger account used to track discounts taken from vendors for fulfillment of discount terms.
Note: A terms discount account is used to account for discounts you receive from vendors. Discounts received from vendors, like terms discounts are accounted for using this account and not handled with inventory cost. This account should be another income account type.
Terms discount department: Department with which terms discounts are associated on the income statement.
Pay X days before term discount date: Number of days prior to the term discount date that you want invoices with discount terms to be automatically included on the AP Payment List.
Pay X days before due date: Number of days prior to the due date you want invoices to be automatically included on the AP Payment List.
Note: The two Pay fields allow you to set the number of days before the discount or due dates you want the invoice to appear on the payment list when you hit the Auto Create button from the Create Payment List window.
Enforce uniqueness of invoice number by vendor: When checked, there cannot be a duplicate invoice number from the same vendor.
Note: You can assign the same invoice number to another vendor, but each individual vendor cannot have a duplicate number.
Enable auto-apply on payments: When checked, e-automate allows accounts payable payments made but not applied to specific invoices to be applied by e-automate using the date as the application criteria, oldest invoices are paid first.
By default e-automate has the Allow duplicates check numbers feature turned on. This feature prevents transactions from being accidentally processed more than once. If you want to change this option, under the Duplicate Check Numbers section select one of the following options. See below for field descriptions.
Allow Duplicates: This button is selected by default.
Warn for Duplicates: Select this button if you want e-automate to generate a warning if duplicate check numbers are processed.
Do Not Allow Duplicates: Select this button if you do not want to allow duplicate check numbers in e-automate.
Click [EFT Options] to open the EFT Options window.
Enter the appropriate information.
See below for field descriptions.
Use EFT (Electronic Funds Transfer): When checked, your e-automate system can create electronic fund transfer files. These files are then delivered to your financial institution which initiates the transfer described in your EFT file.
Wait the following days after sending pre-note to activate vendor for EFT: You identify the number of days the e-automate system will wait after sending a pre-note to activate the vendor’s EFT capability. ACH rules state that you cannot send EFT payments before six banking days have elapsed, following a pre-notification.
EFT file output location: The location on your local computer or network in which e-automate stores the EFT files created.
Note: You must have write access to this directory. Use the […] button to browse for an EFT file location.
Cashbook account: The cashbook account used for EFT transactions.
Click [OK] to save your EFT settings.
Click the [OK] button to save your changes and to close the Options window.
Note: If you made any changes, e-automate displays an Attention window, indicating that all users must restart e-automate in order for these changes to take effect. Do the following:
Click the [OK] button to acknowledge the message.
Restart e-automate so that these changes will take effect.
If you are running e-agent, restart e-agent as well.