Setup Example – Supplier Payments
- Supplier Payments record payments made to suppliers.
- The same Transaction Type can be used to pay suppliers in multiple currencies.
- If the selected bank account does not match the supplier’s currency, the payment is converted to the local currency. In this case, an additional bank entry may be needed to capture any forex gain or loss.
- A Supplier Payment can be copied to a Supplier Refund (e.g. if the supplier refunds an overpayment); the payment is then set to Complete.
💡This page provides an example of a Transaction Type setup for Supplier Payments.
In this example, Supplier Payments are posted to the ledger (Dr Supplier, Cr Bank).
Header
- Description: Supplier Payments
- Code: SUP PMT
- Entities: All
Settings (tab)
- This section lists the compulsory and optional settings that can be used to customise Supplier Payments.
- Settings with Default as part of the name can be changed when capturing a transaction.
| Setting | Description | Value | When Required |
|---|---|---|---|
| Accounting > Credit Type | Select from a dropdown list of account types. The options are:
| Ledger | Always |
| Accounting > Currencies | Select which currencies apply to the Transaction Type. The options are:
| All | If you receive invoices or pay in foreign and local currencies. |
| Accounting > Debit Type | Select from a dropdown list of account types. The options are:
| Supplier | Always |
| Accounting > Default – Credit Account | Select a default account from the dropdown list. | Bank – FNB 22886552214 | If you generally pay from a specific bank account. |
| Accounting > Enable Accounting | A checkbox. If checked, accounting is enabled. If unchecked, transactions are created in the module and not posted to the ledger. | Check the box. | Always |
| Accounting > Pricing | Select a pricing option from the dropdown list:
| Accounting | Always |
| Accounting > Update Bank | Specifies how to treat entries imported from a bank statement:
| Credit | If you import bank statements with a Bank Import and want payments to be matched to the bank account’s credit entries. |
| Defaults > Default – Data Filter | The default filter when you view a list of transactions for the Transaction Type. The options are:
| Select an option from the dropdown list. | The default filter is:
|
| General > Enable Company | Select what type of company should be in the header:
| Suppliers (All) | Always |
| General > Enable Entities | Select an option from the dropdown list:
| Branch | If you want to allocate Supplier Payments to a branch. |
| General > Reference Lookup | Enter Reference lookup lists. | Click the Value column and enter the lookup entries, one per line. Check the Auto Height box to show the full lookup list. | If you want staff to select a reference from a lookup list instead of entering one. |
| Transaction Items > Enable Adding Items | Specify which type of items can be added to a transaction. The options are:
All the buttons to add items still appear. A disabled feature shows an error message when clicked. | All | Always |
Statuses (tab)
- You may create an unlimited number of statuses.
- However, there are only four Status Groups:
- Pending
- Active
- Complete
- Cancelled
- The first status should allow editing.
- The final status should ideally not allow editing.
- If the setting Accounting > Enable Accounting is checked, at least one status should have the Accounting column checked.
- If inventory is used, at least one status should have the Inventory column checked.
- If editing is allowed when the inventory or accounting columns are checked, any accounting or inventory reports should be considered provisional.
Categories (tab)
- Use categories to sort records.
- The categories you choose should be meaningful to your business.
- Using categories is optional but recommended.
- Categories can be copied from another Transaction Type. The existing categories are replaced by the copied categories.
This example has no categories. If you want to sort your Supplier Payments (e.g. by payment method or type of supplier), create your own categories. Supplier Payments are created by copying Supplier Invoices, and the category is copied with them. You can change the category on a copied transaction, but it is easy to forget. It is therefore best to use the same categories as the Transaction Type they are copied from. See Transaction Categories Tutorials.
Copy Rules (tab)
- Copy Rules determine when transactions may be copied.
- Although two transactions are involved in the copy, you only need to create one Copy Rule.
- User access must be set for each Copy Rule.
- You can automate copying transactions by selecting a Trigger status.
Output Templates (tab)
- Output Templates are the forms you need to print, preview or email a transaction (e.g. invoices).
- Default templates are included. They automatically show your company name, logo and bank details, as filled in on the Output tab of a registered entity.
- You may edit these templates to include or exclude information.
- You may also create your own forms and templates from scratch.
No default templates. If you want to print or email these transactions, you can create your own templates (see Output Template Tutorials) or contact QuickEasy Support to create templates for you.