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.

 

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