Payables Configuration
Use Payables settings to manage organization details and defaults for invoices and purchase orders. Under Settings, select Payables to configure invoice aging, payment terms, addresses, default accounts, signatures, logos, and purchase order line items.
Note: Available options depend on your user permissions.
Organization Info — Set default organization details, including country, address, city, state, ZIP code, phone number, and federal tax identification number. These details appear on printed documents and correspondence. For 1099 distributions by state, define the states and state IDs before assigning distributions to invoices or credit memos.
Aging Info — Track accounts payable invoices by age to identify current and overdue invoices and see how many days each invoice is overdue.
Payment Terms — Set the number of days until an invoice payment is due, the discount percentage, and the number of days in which payment qualifies for the discount. Use payment terms to identify invoices eligible for early-payment discounts.
Addresses — Manage default addresses with contact names and phone numbers, and specify how addresses appear when printed. Use these addresses as defaults for your organization's correspondence.
Default Accounts — Set accounts to use in distributions. Configure default accounts to balance automatically by fund and segment when you enter debit accounts, or define an account hierarchy with a primary default account and secondary accounts for specific circumstances.
Signatures — Add and manage electronic signature images that appear on purchase order forms.
Organization Logos — Add and manage logos that appear on purchase order forms.
Flat Amount Line Items — Add reusable flat amount line items, such as freight charges and local sales taxes, to purchase orders. Purchase orders can also include quantity/price and comment line items.
Quantity/price (formerly regular line items) use a price and quantity for goods and services.
Flat amount (formerly miscellaneous line items) use a fixed price.
Comment line items add information to a purchase order, such as a no-backorders instruction.
From Flat amount line items, add default charges, such as freight and local sales tax, to select when creating purchase orders.
When you add a line item and edit its details, use Line Item Distributions for guidance on entering distribution information.
Note: When you enter line item distributions and apply them to purchase orders, the PO Encumbrance credit account automatically becomes the default credit account.