About Vendor Groups

You use vendor groups to classify your vendor records into groups that share similar characteristics. You define vendor groups adding vendor records.

Vendor groups let you:

Set default entries to speed up the task of adding vendor records.
Select accounts for payment. (The vendor group is one of the selection criteria.)
Select vendors on reports. (Vendor transactions, aged payables, aged cash requirements, letters, and labels can all be printed for a range of vendor groups.)

About Setting Up Vendor Groups

You must define at least one vendor group, and you may define multiple vendor groups.

You use the Vendor Groups screen to define the vendor groups you need.

To define a vendor group, you must:

Assign a unique code, up to three characters, to identify the group.
Select the account set, terms code, and bank code to use as the default selections for the vendor records you will add to the group.
Specify the method for distributing transactions to general ledger accounts. You can distribute invoices by distribution set, distribution code, or general ledger account.
Specify a default code for the distribution method. For example, if you select G/L Account, you must specify the default general ledger account to which you want to distribute amounts.
If you have a multicurrency ledger, specify the default rate type for vendors in the group.
Choose whether to check for duplicate invoices with the same vendor and amount or same vendor and date.
Choose whether to generate separate payments for each invoice, or pay several invoices with a single check.
Set default entries for vendor optional fields.
Select the default tax group for vendors in the vendor group. You must also enter a tax class for each tax authority in the group, and indicate whether tax is usually included in the invoice details.
Specify whether the vendors in this group are subject to 1099/CPRS reporting. (You can override this choice for individual vendors.)