CenterPoint® Fund Accounting - Create a Vendor

Related Help

Vendor General/Address tabs Video - Duration: 9 min 24 sec

Vendor - Credit Cards/Custom Name Fields tabs Video - Duration 3 min 24 sec

Vendor - Email/Print tab Video - Duration 5 min 04 sec

Vendor ACH Payments tab Video - Duration 5 min 51 sec

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Vendors are individuals or companies who you purchase goods and/or services from. Vendors are used when entering Vendor Invoices (AP) and Payments.

Tabs
General Addresses Credit Cards Custom Name Fields
Email/Print ACH/Payments    
  1. Select Setup > Vendors.
  2. Click the New button at the bottom of the screen.
Note: To set a default for many of the fields on the screen, right-click and select Set As Default. For example, if most of the customers you enter are for a particular State, you can set that state as the default that will display. To clear the default, right-click and select Clear Default. If you want to skip any fields when you create vendors, you can remove fields from the tab order by clicking the Options button, selecting Set Tab Stops, and then removing the check mark next to the fields you want to skip.

General tab

  1. Select an appropriate Name Format. The Name Format selection is used to format the Name box to accept an individual's first and last name, or a company name.
  2. Under Accounting Information, select an appropriate Payment Term. The Payment Term is used in invoicing to calculate the Invoice Due Date.
  3. In the AP Account field, select the default AP Account for this vendor. If an AP Account is not entered, the default from Preferences (File > Preferences > Vendor Invoices > Default Accounts) will be used.
  4. In the Abbreviation box, enter up to ten characters that will easily identify the vendor.To set how duplicate abbreviations are handled by CenterPoint, right-click and select Allow Duplicates (Use this option to reuse and not require the value in the Abbreviation box.), Warn if Duplicate (Use this option to receive a warning if a duplicate abbreviation is used. A confirmation message will display. To continue using the duplicate value, click Yes.), or No Duplicates Allowed (Use this option to require a unique value in the Abbreviation box. A message will display. Click OK to return and enter a unique value.).
  5. Select the On Payment Hold check box to place a hold on all payments to this vendor. When a vendor is on payment hold, their invoices will not display on the Pay Invoices Due screen and when saving a payment on the Payments screen a "You cannot save this transaction because the Vendor is on payment hold." message displays because the vendor is on hold.
  1. Select the user-definedGroup to assign the vendor to, for example Wholesale, Retail, Referral Partner. Groups are used in reporting and as a filter to limit the range of vendors in many reports.
  2. Enter the vendors full company name or individuals first/last name (the format of this field will depend on which option was selected in step 3).
  1. Enter the appropriate address information.
.Note: If you prefer to enter the zip code and have CenterPoint auto-fill the city & state information (instead of manually typing in the city, state and zip), then make that selection in Preferences (File > Preferences > General > Address Settings)
  1. Enter the Vendors Phone, Fax, and E-mail address (if applicable).
  2. The Federal and State Tax Id fields are optional, but are used when printing tax reports (for example, 1099's).
  3. If you want to print a 1099 for this vendor, select the Issue 1099 for this Vendor check box.
  4. The Memo field is used when printing checks. Include up-to 50 characters of information that you want to print on the check portion of a printed check (for example, your account number).
  5. Select the Consent to Electronic 1099 check box if this vendor consents to receiving only a 1099 form that can be viewed through Aatrix (the vendor will not receive a paper form). If this box is selected, a signed consent form must be on file.
  6. If the email address you want to include with the electronic consent is listed in the Email drop-down list, select the address, or enter a new email addresses.
  7. To select which companies/funds this name is active in, click the Active Status button, select the companies/funds the name is active in (the default is active for all companies/funds), and then click OK.
  8. The Additional Notes button is optional and can be used to track internal notes regarding this vendor. When notes are added from the Additional Notes button, the button label will change to Edit Notes with a yellow background.
Note: To add a time stamp to a note added or edited on the Additional Notes screen, click Stamp. If you are adding/editing a stamp in a database without security, the stamp will display "Edited on (current date and time)". If you are adding/editing a stamp in a database with security, the stamp will display "Edited by (username) on (current date and time)".
  1. If you want to select which fields are necessary for data entry, click the Options button and then select Set Tab Stops
  2. Select the Print Notes on forms check box to print notes entered on the Additional Notes screen on a purchase order or check when the Payee Notes field is added in Setup > Forms Designer > Check Stub Form Designer or Purchase Order Form Designer
  3. The Addresses tab and Credit Cards tab are not normally used when setting up vendors.

Custom Name Fields tab

  1. The Custom Name Fields tab can be used to track additional information regarding a vendor. Custom fields are optional.

Email/Print tab

  1. Click on the Email/Print tab. The Email Addresses and Options fields that are active will depend on the modules that you have purchased and registered and if the name is a vendor a customer. Use these options to set up multiple e-mail addresses where invoices, statements, sales orders, purchase orders, checks (advices), receipts, and permits can be sent for this vendor. You can also select how each e-mail is to be sent, No Email, Send "To..." (directly to the recipient), Send "CC..." (as a carbon copy), or Send "BCC..." (as a blind carbon copy, for example, the person sending the email may want to enter their own e-mail address so they have an audit trail of emails sent ). The Email Addresses and Options settings will be used to set the default image on the Email button on transaction entry screens. An envelope image with a check mark on it will mean the form will be emailed and an Envelope image with a cross-through on it will mean the form will not be emailed.

The Print Options fields that are active will depend on the modules that you have purchased and registered and if the name is a vendor a customer. The available fields are: Print Customer Invoices, Print Customer Statements, Print Receipts, Print SalesOrders, and Print Purchase Orders. Use these options to determine if invoices, statements, sales orders, and purchase orders should be printed for this vendor. The Print Options settings will be used to set the default image on transaction entry screens. A printer image with a check mark on it will mean the form will Print and a Printer image with a cross-through on it will mean the form will not print.

ACH Payments tab

  1. Click the ACH Payments tab. If you plan to electronically transfer payments to payees, see the ACH Setup & Processing document for more information.
  2. To activate ACH electronic payments for this vendor, select the Activate ACH Transactions check box.

  1. Standard Entry Class (SEC) code to designate how the transaction was authorized by the originator. Select one of the options below:
    • PPD (Preauthorized Pay/Deposit) - for credits and debits that process against consumer accounts for entries such as payments to vendors and direct deposit.
    • CCD (Corporate Credit or Debit) - for credit and debit entries processed against non-consumer accounts for transactions such as payments to vendors and collections from customers.
    • CTX (Corporate Trade Exchange) - use CTX, like CCD, to facilitate business-to-business transfer of funds as either debits or credits.
  2. Select one of the Transaction Codes below to identify the type of entry that should be included in the ACH file for the vendor. A pre-note is the commonly used term for an Automated Clearing House (ACH) pre-notification. It is a zero dollar ACH entry that should be sent at least six banking days prior to the first live ACH credit being sent. Under NACHA Operating Rules (also known as ACH rules), a pre-note’s purpose is to “validate” the routing number and account number of the receiving bank or credit union.
    • 22 - Checking Account (Credit)
    • 23 - Prenote Checking (Credit)
    • 32 - Saving Account (Credit)
    • 33 - Prenote Savings (Credit)
    • 52 - Loan Account (Credit)
    • 53 - Loan Prenote (Credit)
  1. In the Bank Routing Number box, enter the bank transit/routing number for this vendor (assigned by the American Banking Association) for where the ACH deposit is to be made. This number is eight digits plus a ninth "check" digit. CenterPoint will verify that the routing number is a valid ABA number and display a warning if it is not. You can choose to continue with your entry if the number is invalid.
  2. In the Bank Account Number, enter the bank account number (up to 25 characters) for this vendor where the ACH deposit is to be made
Note: If you want to attach a document to this vendor, see the Scan and Attach Documents topic for detailed information.
  1. Click Save. Click Close.

Document: 3005

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