To configure the finance control measures for a supplier record

The procedure to configure the finance control measures for a supplier record is as follows:

1. Navigate to Quick Menu > Purchasing > Configuration > Suppliers. The Suppliers window is displayed.
2. Expand a parent supplier heading and select the desired supplier record from the hierarchical list, or type its name into the Search for Suppliers field. By default the list is filtered to show Current suppliers. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations 1.
3. Click on the Finance Control Details expansion level pointer icon () to reveal the row detail.
4. Where contract arrangements with the supplier permit the housing organisation to Raise purchase orders directly on this account, activate the corresponding tick box provided.
5. Where contract arrangements with the supplier permit the housing organisation to Enter purchase invoices directly on this account, activate the corresponding tick box provided.
6. Use the Default VAT code drop-down field to nominate the VAT percentage rate applicable to the most common purchases from this supplier.
7. Enter the VAT registration number and Company registration number of the supplier into the fields provided.
8. Where Invoices on this account need approval before final processing, activate the tick box provided.
9. Where an amount of money will be retained by the housing organisation for a period of time after the goods have been delivered from the supplier, activate the Retention field provided; the associated Retention percentage and Retention period (in days) must also be completed using the adjacent entry fields 2.
10. Using the Terms type drop-down field, select a parameter value to to define the conditions under which each purchase is conducted i.e. On Account or Pro Forma; the associated Terms condition and Payment due days must also be completed, where applicable, using the adjacent entry fields 3.
11. Enter the agreed Settlement terms for prompt invoice payment into the corresponding fields provided, represented as a fixed percentage value within a defined number of days.
12. Enter the Penalty interest percentage value to be incurred after an elapsed period (quoted in Days) into the corresponding fields provided.
13. Use the Terms comments field to add contextual information pertinent to the agreed contractual conditions.
14. Click on Save.

Note

1 The Search for Suppliers field will match against any element of the supplier name.

2 The Up and Down arrows are available to increment or decrement the values, as required.

3 Where Pro Forma terms are in operation, payment must be made upfront prior to dispatch of the material items.

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Purchasing supply chain maintenance overview

To create a new supplier record