Populate the Settings tab for a supplier record

In the Defaults and VAT section, you have three options:

Select the correct VAT type for the supplier by clicking the supplier record from the VAT type list. For more information on creating an any currency supplier, follow our article on create an any currency supplier.

The selection you make is used to validate the VAT rates that you enter on transactions for this supplier.

You can only select a valid VAT code.

For a GBP VAT supplier, all non-EU VAT codes are valid.

For an EU VAT supplier, all codes are valid expect VAT codes X and Y.

For a non-EU VAT supplier, all non-EU VAT codes are valid.

You can only select valid purchase analysis records. All active purchase type analysis records that match the supplier currency are valid.

When using an any currency supplier, all active purchase type analysis records of all currencies within your database are valid.

You can only select valid bank analysis records. All active bank type analysis records that match the supplier currency are valid.

When using an any currency supplier, all active bank type analysis records of all currencies within your database are valid.

You can select or enter a purchase and bank analysis which records your purchases from this supplier.

The analysis set on the supplier pulls through as default to all your purchase transactions.

You can also select or enter a VAT code for this supplier.

The VAT code set on the supplier pulls through as default to all your purchase transactions.

Leaving these fields blank results in the system default pulling through for the transactions.

You can only select valid analysis records.

All active bank type analysis records that match the supplier currency are valid.

When using an any currency supplier, all active bank type analysis records of all currencies within your database are valid.

You can record the sort code, account number, account name, and bank name. Additionally, you can record a BACS reference, IBAN number, and SWIFT or BIC code.

SWIFT or BIC code - These are ISO standard formats that are unique identifiers for international financial institutions.

SWIFT, BIC, and IBAN are all ISO formats however, IBAN is earlier than SWIFT or BIC and is covered by a separate ISO standard.

The SWIFT or BIC code is the agreed common format in implementing single euro payments area (SEPA) in the Eurozone.

This section is set up for communication purposes and you are also able to set a supplier to be Inactive by toggling the Inactive buttons from No - default, to Yes.

You won't be able to set a supplier to be inactive if they have transactions saved in the batch.

EDI stands for Electronic Data Interchange.

EDI is a standard electronic format that replaces paper-based documents such as purchase orders or invoices.

By automating paper-based transactions, organisations can save time and eliminate costly errors caused by manual processing.

There are standard email templates defined when a new database is created.

You're able to add new ones within the System module which is permission driven.

You can set the email template for the following:

If your database has several templates set up for both options, you can select the relevant one from the drop-down list.

The Contra Settings section only becomes visible once you save a supplier, or if you're editing an existing one. It won't be available when creating a new supplier.

You can use the contra settings when you have a supplier who also buys from you and you wish to offset any money you owe to this supplier against the money that they owe you.

To set up a contra relationship between a supplier and a customer, you have to have existing customer records in the Debtors or Sales Ledger module.

For more information on how to link a supplier to a customer record, follow our article on setting up a supplier and customer relationship.