Most invoices need to be recorded in the General Purchases journal. However, the stacks of invoices that make their way to the accounting department can be daunting. To make this process easier, ERA-IGNITE allows vendor records to have default settings when invoices are entered in the General Purchases journal.
To get started with these default settings, search for the vendor record you would like to set up in the NAMES application. Once the record is open, select the A/P tab.
Default Due Dates
For vendors who have a consistent due date, there are two options available in the Default Invoice Due Date section.
Press F12 to save the default due dates to the vendor record.
Default AP Accounts
To save some time typing or looking up accounts when entering invoices or issuing checks, a vendor can have default accounts saved in the A/P tab using the Default AP Accounts option.
Add all the accounts you want to default for the vendor in the Default AP Accounts window. Use the magnifying glass icon to look up account numbers. Once the desired account is selected, press F12 to save your work.
Default Discounts
Although not as common as it once was, some vendors offer discounts if payment is received within a certain amount of time. To apply them as a default to a vendor record, refer to the Discount Code field in the Vendor Information section in the A/P tab. Select the appropriate discount code in the drop down menu and then press F12 to save your work.
Once the defaults are applied and saved to the vendor’s name record, they are available when creating an invoice.
Setting up these default settings is a great time saver. Make that stack of invoices less of a challenge and more of a manageable task in the vendor payment process.
