Purchases Tab

You see the following fields in the Purchases tab of the Vendor Maintenance dialog box:

Credit Limit: Enter the maximum unpaid balance you are permitted to have with this vendor. If your terms are cash only, enter zero. When this amount is exceeded, a message alerts you to this fact each time you create a new purchase order for this vendor.

You can use the Credit Limit field to put a purchase hold on the vendor. If you enter a negative number in this field, you will be unable to enter new purchase orders or payable invoices for the vendor until you increase your credit limit to zero or more.

Payment Terms: Press the PickList button to see a list of established payment terms. Select the terms for this vendor.

The format for the terms description is [Discount]/[Days to earn discount]/[Payment Deadline]. When you select a term from the list, the following fields are filled in with their corresponding values: Payment Disc %, Payment Disc Days, and Terms Net Days. You can only select terms from the list of acceptable choices.

The list of valid terms is a System Manager rule. See System Manager for information on creating and updating the list of valid terms rules.

Payment Disc Days: This field shows the number of days in which you must pay the vendor in order to receive the payment discount. The value in this field is determined by the Terms description; you cannot edit it directly.

Terms Net Days: This fields shows the total number of days in which you must pay invoices to the vendor. The value in this field is determined by the Terms description; you cannot edit it directly.

Sales Tax %: Enter the percent sales tax charged on purchases made from this vendor. You can change this percentage when you create a purchase order.

Payment Priority: This field only appears if you have Accounts Payable installed. Select a number between 1 and 9, 1 being the highest priority, or select "M" if you pay this vendor with manual checks, or select "0" if this vendor is on payment hold. For more information, see your Accounts Payable documentation.