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Setting up a vendor in Dynamics Great Plains (GP) Payables Management

14 Oct

Setting up a vendor in Dynamics Great Plains (GP) Payables Management

by SMB Suite
in Dynamics GP Long Term Strategy, Support
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Microsoft Dynamics GP (Great Plains) is a very powerful business management tool, providing essential features such as vendor management, and making it easy to enter and post purchase transactions, and track payments. Vendors are the foundation of Payables Management; therefore it is important to maintain information about vendors, and ensure your information is accurate and up to date.

 

To add a vendor to the system:

 

1. Go to the Purchasing Module in GP.

 

 

2. Under the Cards option, select Vendor

 

3. In the vendor maintenance window, fill in the vendor information:

 

THE FIELDS:

  • Vendor ID: This is an assigned ID to identify a vendor.  This can be an abbreviation of their name, an internal ID code assigned or a number.  For example:  Test Company LTD – possible IDs could be TC1234, TESTCO, XET001, etc.
  • Name: Type in the vendor’s full name.
  • Short Name: This will auto populate
  • Check Name: This will auto populate

 

 

CLASS ID:  The Class ID is a tag you can place on a vendor which will set default values for your vendor.  This will enable you to do a mass update to those vendors.  Clicking on the Class ID field name on the Vendor Maintenance window, opens the window below.

 

***NOTE:  When you do any updates to the Class ID window, you will be asked if you want to Roll Down the information, which will update the information on all Vendors with this Class ID, including any specific information you may have updated for a specific vendor.

 

Class IDs can be set up by you to set fields by default for a group of vendors and use in reporting.  The example below shows Class IDs set up by country and type of service.

 

Vendor Class setup includes:

  • Class ID: An ID assigned as per your company
  • Description: A detailed description of your class ID
  • Default: You can check this box if you want this class ID to be your default for new vendors.
  • Currency ID: This will be the currency prescribed to your vendor and how they are paid.
  • Tax Schedule: Assigns how tax is calculated in a transaction for this class ID.
  • Rate Type ID: If you use Multicurrency Management, enter or select the rate type ID that vendors in this class typically use.  During transaction entry, the rate type ID you entered for a vendor class – and rolled down to vendors in the class – is the default rate ID in payable transaction entry windows.  Click the Rate Type ID link to view more information.
  • Shipping Method: Assigns a shipping method for your class ID.
  • Payment Terms: Enter payment terms for this class ID.
  • Checkbook ID: Select the checkbook for which this vendor class will be paid from.
  • Discount Grace Period: You are able to assign a discount grace period.
  • Due Date Grace Period: You are able to assign a due date grace period.
  • Payment Priority: This is a feature that will let you assign a class ID to pull and pay in a check run first or by priority.  01 would pay before an A1.
  • Minimum Order: This is a minimum amount that you are required to meet to place an order with this vendor class – used mostly for inventory class ID’s.
  • Trade Discount: You can enter a trade discount here.
  • Tax Type: Choose the tax type that applies to most vendors in the class.

 

  • FOB: Select the default FOB for this class ID.

 

 

Minimum Payment, Maximum Invoice Amount, Credit Limits and Writeoff limits can be assigned in this section.  These settings default to none or not allowed unless you change them.

  • Revalue Vendor: Marks whether you can revalue multicurrency documents for vendors in this class.
  • Post Result To: Mark whether to post revaluation amounts to a Payables/Discount account or a Purchasing offset account.

 

Maintaining your history:   You can mark whether to maintain your history on these options.  They system defaults to checking all four options.

 

 

Accounts:  You can assign default GL accounts that vendors in this class ID will post to.

 

Primary Address:  Assign an address for your vendor.

 

You can assign multiple addresses for your vendor by clicking on the blue Address ID hotlink.  This is beneficial if your vendor has a different mailing address, remittance address and/or shipping address.  Fill in the Vendor’s address information as well as their phone/contact information.

  • Address IDs: Assign an address ID that you created above.
  • Vendor Account: You can put your account number with that vendor in this field.
  • Comment 1 & 2: Various user information or account information that you wish to include. This is like a “notes” section.

 

BUTTONS AT BOTTOM:

You can access various information for a vendor from these buttons.

  • Options: Change vendor maximums and minimums
  • Address: Access the address maintenance window.
  • Accounts: Assign specific GL accounts for this vendor.
  • E-mail: Set up Email options for the vendor.

 

4. Click SAVE at the top to save your vendor in the system.

 

If you need additional assistance, then get in touch with our support team!

 

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.