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The Payables Management module is commonly referred to as Payables, Accounts Payable, or AP. As it is part of the Purchasing series in Dynamics GP, the menu options for AP will start with Purchasing. All the SQL Server tables for the Payables Management module begin with PM, so you may also sometimes see it referred to as PM.
Setup for the Payables module includes the following:
1. Payables Management Setup
To open the Payables Management Setup window, navigate to Microsoft Dynamics GP | Tools | Setup | Purchasing | Payables. The following list explains the settings on this window:
Aging Periods: Aging for payables transactions can be done by Due Date or by Document Date
(Transaction Date). All AP inquiry windows and reports will use this
setting when showing aging information for payables transactions.
Dynamics GP allows up to seven Aging Periods, or buckets, which cannot overlap and cannot exceed 999 days.
The out-of-the-box reports in Dynamics GP will
only show four payables aging buckets. If you want to use more than four
aging buckets, you will need to customize your reports.
Aging settings can be changed at a
later date. However, all open records will need to be reconciled to
propagate any changes, which may be a lengthy
process and will require all users be out of the system, so it is not
something companies will want to do often. Typically companies will have many different payment terms for their vendors, so aging by Due Date is recommended.
Apply By: This setting determines if transactions are applied in order of Document Date or Due Date when the Auto Apply
button is used on various windows. Auto apply is not very commonly
used, so this is not a critical setting. There is no reason why this
setting has to be the same as the Aging Periods setting.
Defaults:
Default Summary View: Determines what default view to show on the Vendor Yearly Summary and the Vendor Yearly Summary Inquiry windows. It is recommended to make this either Calendar Year or Fiscal Year, as this will save users time when inquiring on vendors.
Checkbook ID: Optionally you can
select a default Checkbook ID to be used for payables transactions. The
Checkbook ID can be overridden on every transaction; this is simply the
default to save users time.
Check Format: You can save users time
and uncertainty during the check printing process by defaulting the
check format they will be using. As only one check format can be
defaulted per company, if you plan to print checks from multiple
checkbooks, consider ordering the same check stock layout for all your
accounts so that the same Dynamics GP check format can be used.
List Documents on Remittance: This setting determines what transactions are listed on the check stub when you print checks. The choices are:
Invoices Only: Will list only debit transactions (Invoices, Finance Charges, and Misc Charges) on the check stub.
All Documents: Will list all transactions on the check stub.
Applied Order: Will also list all transactions, but in the order they were applied.
Totals Only: Will only show the total being paid and list it as a Prepayment on the check stub.
The most commonly used option is All Documents.
Print Previously Applied Documents on Remittance:
If this option is checked, any check printed will show all payments and
credit memos applied since the last check was printed for the same
vendor. For example, if a check is printed, then a wire transfer is
entered and a credit memo is applied for the same vendor, the next check
to this vendor will show the apply detail for the wire and the credit
memo on the check stub. What setting to choose for
this may depend on how your company typically pays vendors. If it is
primarily by check, you may want to
leave this checked. If it is a combination of payment methods, you may
decide to leave this unchecked in order to not clutter up check stubs
and create confusion for your vendors.
Password:
Remove Vendor Hold: If no password is set up, any user with access to the Vendor Maintenance window can remove a vendor hold. (Payments cannot be entered for vendors on hold.)
Exceed Maximum Invoice Amount: If no
password is entered and a maximum invoice amount is set for a vendor,
the system will not allow a user to save an invoice for more than the
maximum. If a password is entered, then the system will prompt for it
when saving an invoice that exceeds the maximum invoice amount set for a
vendor.
Exceed Maximum Writeoff Amount: If no
password is entered and a maximum writeoff amount is set for a vendor,
the system will not allow a user to enter a writeoff for more than the
maximum. If a password is entered, then the system will prompt for it
when entering the writeoff and allow a writeoff above the maximum.
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Note that all the passwords are stored in plain text,
so if a user should not know the passwords, they should be restricted
access to this window.
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Options:
Override Voucher Number at Transaction Entry:
Voucher numbers are Dynamics GP terminology for the automatic numbering
assigned to all payables transactions. Typically, you would not want to
give users the ability to override this numbering, as it may cause
errors during transaction entry.
Track Discounts Available in GL: If
you are planning on setting up a Discounts Available account for
tracking discounts separately in the General Ledger, select this option.
If this option is not selected, discounts can still go to a separate GL
account, but only at the time that payments or credits are applied to
invoices.
Print Historical Aged Trial Balance:
Even if a custom report is used to print the Historical Aged Trial
Balance, it may be useful to compare it to the out-of-the-box report, so
it is recommended to allow printing of the Historical Aged Trial
Balance.
Delete Unposted Printed Documents:
This setting applies to only AP documents that are sometimes printed for
internal documentation purposes. It does not apply to payables
checks—once checks are printed, Dynamics GP will not allow them to be
deleted. Most companies choose to allow the deletion of documents and
thus leave this option checked.
Print Tax Details on Documents and Print Dual Currencies:
These settings are also for internally printed payables documents,
which are rarely used in Dynamics GP. If using purchasing taxes, check
these options.
Age Unapplied Credit Amounts:
Unapplied credit transactions (Credit Memos, Returns, and Payments) will
show in the Current aging bucket on Aged Payables Trial Balance reports
unless this option is selected. Most companies choose to age unapplied
credit transactions so that they appear in the appropriate aging buckets
based on their age.
Exclude Expired Discounts from Payments:
If this is selected, when creating a batch of computer checks, any
transaction with a discount date prior to the apply date of the check
(usually the same as the check date) is not included in the check run.
Whether or not to select this should depend on the company's policies
for vendor payments and dealing with discounts.
Allow Duplicate Invoices Per Vendor: It is recommended to choose Recurring Transaction Only,
so that Dynamics GP can automatically prevent double entry of invoices
by checking for duplicate invoice numbers. Recurring transactions are
excluded from this because, by default, they will have the same invoice
numbers.
The following illustrates a typical Payables Management Setup window:
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