Use Payables Policies to define and maintain data for the internal company used in Payables. The information includes Default Vendor Class, rules for when checks are eligible to be selected for payment, rules for handling duplicate invoice numbers, and whether a vendor requires 1099 reporting.
Setting up Payables Policies
Select Financials | Setup | Payables Policies.
Aging
In the Aging area, specify the following settings:
Age Invoices By: This selection determines what date will be used by the Aging process and Accounts Payable Aged Invoices report, when Specific Aging Date is selected for Using, to age open documents. The options include:
Discount Date - aging will be done based on the Discount Date
Due Date - aging will be done based on the Due Date
Invoice Date - aging will be done based on the Invoice Date
Aging Categories : Define the number of days to be used to age outstanding balance documents in up to four buckets. These numbers will be used to label the aging categories.
Other Controls
In the Other Controls area, specify the following settings:
In Default Vendor Class, specify the value that you want to use as the default vendor class when you create a new vendor for your Internal Company.
Specify a minimum amount in Do Not Create Payments Less Than N Dollars to avoid creating a check to pay selected documents if the payment is less than this amount. A warning appears in Manual Payment if you create a manual payment for less than this amount.
Select the approval workflow to be used as the default for non-project expenses in Non-project Expense Approval Workflow. Approval workflows are defined in the mobile app.
Receiving and Invoicing
In the Receiving and Invoicing area, specify the Duplicate Invoice Handling option that you want to use when an invoice number and a vendor match one already entered in the system. The options include the following:
Do Not Accept Invoice: Select this option to display an error message. The invoice is not saved.
Issue Warning and Place Invoice On Hold: Select this option to display a warning message. The invoice is saved and put on hold.
Issue Warning: Select this option to display a warning message. The invoice is saved.
If you want the system to automatically create the ACH file when selecting which documents to pay in Financials | Payables | Payment Selection, select Allow Automatic ACH File Creation at Payment Selection.
To require a separate user to approve an ACH vendor setup, leave Require Separate User to Approve ACH Vendor Setup selected. If this option is cleared, the person entering/updating the vendor ACH settings will be considered both the updater and approver. However, unlike for a separate approver, the Approve ACH Settings button will not be visible on the ACH Settings dialog that is used for specifying a vendor's ACH bank routing/account information. The updater/approver only needs to click OK on that dialog for the settings to be approved.
See also Vendor and Vendor ACH Quick Start.
1099 Reporting
In the 1099 Reporting area, click to select the Enable 1099 Reporting check box to enable the 1099-related boxes in Vendor and in Vendor Invoices and Adjustments. If this check box is cleared, the 1099-related boxes are disabled in these screens.
Enter the email address from which invoices will be sent to vendors in From Address.
Enter additional email addresses to receive a copy of the email in the CC to From Address.
Click Save to save the payables policies.