Creditor - Account

Menu Selection: Document - Creditor - Account

Purpose

To establish the relationships in the database between a key for a creditor's account with the name and address and other data associated with the trading entity in question, or to edit creditor's data already established in the database.

Prerequisites

This document provides the facility for the initial creation or editing of a creditors account details. There are no mandatory prerequisites, but the Category and Currency fields are search only and refer to data that should be pre-defined. (See Parameters - Categories and Parameters - Forex Rates.)

Context

The Creditor’s Account Maintenance screen is divided in two sections by a black line. The data above the line is stored in Name & Address records.  The data below the line corresponds to the actual creditors’ account. An actual creditors account will only be created when non-blank data is placed in any field below the line. (For example fill in the field called Terms with 30 days etc...)

About This Screen

Field Enterable? Instructions
Key Yes Type in the new creditor's key or search for an existing one. The Lennox Computer recommended convention is to use the first three characters of the customer’s name, followed by another three characters from the second word, e.g.: Lennox Computer would have LENCOM for its key.
Name Yes Type in the creditor’s company name.
Address, Street, Suburb,
State, Post Code		 Yes Type in the creditor’s address.
Contact Yes Type in the name of contact person in the organisation.
Phone Yes Type in the creditor's telephone number with area code.
Fax Yes Type in the creditor's facsimile number with area code.
Mobile Yes Type in the creditors mobile phone number.
e Mail Yes Type in the creditors email address.
Terms Yes Type in the creditor’s terms (eg: days of credit are entered in this field).
Credit Limit Yes Type in the available credit on this creditor.
Settlement Yes Type in settlement discount, expressed in percentage form, if applicable.
Freight Terms Yes Type in the freight arrangements for this creditor, e.g.: FOB HONG KONG.
Category Yes Type in the Category this creditor belongs to, eg: TRADE.
Currency Yes Type in the relevant currency in which this creditor trades.
Ledger Yes Select the default Ledger that appears on the purchase order document.
Main Yes Select the default General Ledger Account that appears on the purchase order document.
Sub Yes Select the default General Ledger Sub Account that appears on the purchase order document.
Exempt Yes Tick this field if you do not pay GST to this creditor (eg. Overseas imports).
Pay By EFT Yes Tick this field if you wish to pay the creditor by Electronic Funds Transfer (EFT).
EFT Reference Yes This field should be left blank on initial entry. After completing a Creditor - Payment with the Pay by EFT field ticked, this field will be updated by the system to reflect the last EFT reference. The EFT reference is entered in the Creditor - Payment document.
Bank Yes Type in the three letter abbreviation of the creditors bank, e.g. WBC, NAB.
BSB Yes Type in the Bank State Branch code of the creditors bank, e.g. 084-123.
Bank Account Yes Type in the creditors bank account number, as required for the EFT.
Fax For Payment Yes Type in the facsimile number with area code, to fax to for notification of payment. To use this faxing capability, Fax Server must be installed and configured correctly.
Text Yes Name and address note text, appears on Creditor Account and Name Address

Transaction Processing

Button Description
Enquire Select a creditor, then click the Enquire button (with the left mouse button). This will then take you to the General Ledger - Enquire document, to view recent transactions. If more a more extended history is desired, use the General Ledger Detail report.

From Here

Once the new Creditor has been established in the database you are then able to do a Purchase Order, Enquire or modify the information kept in Creditor Account document.