The Account object serves as both a Customer and Vendor in Accounting Seed. To setup a new record simply navigate to the Account Tab and click the new button.
Summary of Steps:
- Navigate to the Account Tab and click the "New" button.
- Enter values for the following fields:
- Check the box for Accounting Active.
- Set the Accounting Type as "Vendor" or "Customer and Vendor".
- Select a default expense GL Account that will automatically populate during the Account Payable Entry process.
- Check the Credit Card vendor box if the Account is a Credit Card to be used in the Expense Report creation process.
- Check the 1099 Vendor box if the vendor needs a 1099 tax report at the end of the year. Set the Default 1099 Box to the appropriate value if applicable.
- Enter the Account Payable Due Days with the number of days from the invoice date that you need to pay the vendor within. Example: "30".
- Optional-Enter the Discount Days Due with the number of days from the invoice date that you need to pay within to get a payment discount: Example "10".
- Optional-Enter the Discount % with the percent discount you will get off the vendor invoice if you pay within the Discount Days Due: Example: "2" would give a discount of 2%.
- Optional – Enter GL Account Variable 1-4 values that will automatically populate during the Account Payable and Cash Disbursement Entry Process. These values can be edited if necessary on specific line items.
- Enter the Taxpayer Identification Number - It is highly recommended that you have this field encrypted by Salesforce support or restrict the visibility of this field by profile using field level security.
- Click "Save"