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[Karen Kellibrew]

Hello, this is a two part question.

How does your company setup new vendors as it relates to banking information?  Vendors are setup according to their W9.  When setting up vendors on ACH, do you add the banking information on MAIN or do you add to an ALTERNATE/REMIT-TO ADDRESS that may be on the vendor’s profile? 

2nd question – How does GP work when it comes to having a MAIN address and 1 or 2 “remit-to addresses” on a vendor’s profile.  If the vendor is to receive an eft payment, does it matters which address is selected or should the address with the banking information be selected.

Thanks.

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Karen Kellibrew
Administrative and Accounting Assistant
American Society of Health-System Pharmacists
Bethesda MD
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[Thaddeus Suter]

Karen, You always want to create at least two vendor addresses. One is MAIN as you say which is for the physical location for POs, shipments etc. We use the City for these addresses as our vendors can have many physical locations: IND01, BALT01, CHIC01 and so on.
For Payments you want at least one REMIT01 address which is where your banking info goes. If you pay to more than one remit you will need REMIT01, REMIT02 and so on for the vendor.

The minimum for a vendor is MAIN and REMIT01 although I really do not like MAIN as it is not sufficiently descriptive and then you may have to add more physical locations.

In straight AP, the address ID in the Address ID location is for determining taxes based on FOB terms.
The address in the REMIT to ID location is for payments. The AP clerk must change these as needed as payments follow the address on the AP Invoice. You can then have separate payments per invoice/remit ID
See below:

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Thaddeus Suter
Retus, Inc
HELOTES TX
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[Karen Kellibrew]

Hello, We setup our vendors under Cards, Vendors and add banking information on Address. If there are multiple addresses on a one vendor’s record for example MAIN and Remit1, Remit2 and Remit3, which address will GP pick if I choose MAIN’s for one invoice and then choose a Remit address which has the banking on it, will MAIN’s address receive a check and will Remit address receive the eft payment?  I hope this is clear. Thank you.

?

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Karen Kellibrew
Administrative and Accounting Assistant
American Society of Health-System Pharmacists
Bethesda MD
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[Thaddeus Suter]

GP will use the Address IDs on the AP Transaction Entry window screen shot above. The ADDRESS ID value will be for Taxes only not for mailing/printing and not for ACH. The REMIT TO ID will be for  printing on the check if mailed and for fetching the Banking Information if ACH.
If you have more than one REMIT TO ie., 01, 02, 03, the AP person must  pick the correct Remit To when entering the AP Transaction based on where you want the check sent or which ACH to use.

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Thaddeus Suter
Retus, Inc
HELOTES TX
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