We discussed the definition of suppliers in the previous chapter, but there are some specifics that are related to Payables only.
In most companies, the purchasing group owns the business process to create suppliers. However, there are payment terms and other related details that are managed by the accounting group, mainly the Payables group. If your organization uses Electronic Funds Transfer (EFT) , the treasury group may also get involved to define banks to enable payments to be transmitted directly to a supplier's bank account. Banks are also needed to make check payments and other payment methods.
We will review a few of the Payables specific supplier related configurations that default to transactions to enable accuracy and consistency.
The data you see in the previous screenshot is defaulted from a high-level Payables configuration, but can be changed for a supplier or a supplier site. This previous screenshot shows an overview of supplier information.
The...