Accounts Payable Installation - Properties

Use this screen to define the default properties settings for the Accounts Payable module. Usually you will only be using the installation screens when you are originally setting up a module, but these settings can be changed at any time.

Fields/Buttons

Descriptions

Post invoices to Job Cost?

Select this checkbox to update invoice amounts to Job Cost. If this checkbox is left clear, then invoices with job, phase and cost type will update to the subcontract detail system without updating Job Cost or Time + Material files. This would usually only be used by new customers during the conversion process.

Note: This checkbox must be selected to accrue the costs of materials that have been received on a purchase order, but not yet invoiced.

Stop entry if subcontract over revised amount?

  • If this checkbox is selected, the software will disallow you to enter the invoice until the subcontract is revised or a change order is recorded.

  • If this checkbox is left clear, the software will sound a warning that the revised contract amount has been exceeded, but entry of the invoice will still be permitted.

You may prefer to have the option to continue entry of the invoice even if, according to the subcontract records in the system, the revised contract amount is exceeded; the operator may know of change orders, for example, that have not yet been entered. Other users prefer to disallow any invoice entry that would exceed the revised contract; this is common in operations where subcontract management and Accounts Payable functions are handled by different staff members.

Default invoice detail dollar amount?

  • Select this checkbox to default the invoice amount in the expense distribution during Vendor Invoice Entry. If this checkbox is selected, the software will offer the balance of the invoice or credit memo when you enter the G/L distribution (in the lower half of the A/P Vendor Invoice Entry screen); if there are multiple lines of distribution, the software will offer the remaining balance of the invoice on each successive line.

  • If this checkbox is left clear, you will need to enter the distribution amount on each line.

You may prefer to have the dollar amount default during entry of the invoice distribution because it decreases overall entry time and increases ease of operations. Other users prefer to enter the amount manually in order to actually slow down the operator; when the amount does not default, the operator must re-key the dollar amount. The system then validates the invoice amount equals the sum of the distribution.

Enter cleared amount in check reconciliation?

  • If this checkbox is selected, the software will prompt for check numbers AND AMOUNTS that cleared during the current statement cycle.

  • If this checkbox is left clear, the software will prompt only for check numbers listed on the bank statement and will assume the amount cleared equals the amount stored for each check.

You may prefer to enter the amount of each check cleared and allow Spectrum to report checks clearing in amounts different than expected. Other users prefer the approach to simply record check numbers cleared. Using either method, the operator is then able to print a listing of checks that have not yet been presented to the bank. This list of "open items" serves as a valuable tool in reconciling the difference between the ending cash balance per bank and your G/L cash account balance.

Note: If the Cash Management module is present, entry in this field is irrelevant.

Recalculate terms discounts by line item?

Select this checkbox to enter the terms discount percent by line item in Purchase Order Receiving, and in A/P Vendor Invoice Entry. When exiting the entry screen, the software recalculates and displays the terms discount amount. If this checkbox is selected and a discount percent or amount is recorded in the heading portion of A/P Vendor Invoice Entry, the terms discount percent defaults to zero on the line items of the invoice.

If no entry is made in the heading, the software assumes you will be doing discounts at the line item level, so the detail lines will default to the vender terms discount percent. If you have entered detail level discount percentages and then later edit the discount amount in the header, the entered amount becomes the invoice discount and all detail line item discounts are reset to zero.

If this checkbox is left clear, the terms discount amount is determined from the terms discount percent in Vendor Defaults. It cannot be entered for each line item.

Enter multi-company invoices?

Select this checkbox to allow A/P invoices entered in this company to be distributed to other companies set up in Spectrum. If this checkbox is selected, the software allows you to specify an alternate company code. When you do this, the software accepts G/L and Job Cost codes from the other company and updates accordingly. The invoice credits the Accounts Payable G/L account code in the current company and debits the multi-company G/L account specified on the Accounts Payable Installation > G/L Codes tab. The invoice distribution debits G/L (and job if applicable) in the other company, and credits the inter-company account code.

Stop entry if invoice date after maximum date?

Select this checkbox to disallow entry in Vendor Invoice Entry, Unapproved Vendor Invoice Entry, Subcontract Billing Entry, and Subcon Below Line Billing of an invoice date that falls after the maximum Accounts Payable processing date. If this checkbox is left clear, then invoice dates occurring after the maximum Accounts Payable processing date may be entered during invoice entry.

Note: If this checkbox is selected, protection will also extend to Materials Management Freight Cost Reconciliation and Material Purchase Reconciliation as well as Purchase Order Receiving (both one-step and two-step).

Enable 'Phase over revised estimate' warning in invoice detail?

This checkbox defaults to selected. When selected, a warning displays in the detail grid in Vendor Invoice Entry, Recurring Invoice Entry, and Purchase Order Entry when a user enters a phase that is over budget.

Include location in Comdata export file?

Select this checkbox if you are a Comdata user and want to include the location field in the export file.

Use auto-sequenced vendor numbers?

Select this checkbox if you want the system to automatically assign the next unused vendor code number when a new vendor is added to Spectrum and an alternate code has not already be specified.

Next vendor number

Default subcontract retention percent

Enter a standard subcontract retention percentage, if applicable to your company. This percentage will default onto new subcontracts as they are added.

Cut-off day for 'First of next month' terms?

Enter the day of the month (1-31) that is your "month-end" for purposes of prox terms A/P invoices. Prox terms invoices are ones carrying terms of "due 10th of following month" or "due 25th of following month".

Example:

If an invoice is due on the 10th of the month and is dated 01/12, it will be due 02/10; if the same invoice is dated 01/29, some offices may consider it due to be paid on 02/10 and others on 03/10. If the policy at your office is to hold invoices dated after the 25th of the month until the following 10th, enter 25 as the cut-off day. If all invoices dated within the current month are considered due on the following 10th, enter 31.

The system will use the figure entered in this field when the Payment due option group is set to First of next month in the Vendor Defaults, to determine the due date during A/P Vendor Invoice Entry. The system will default the computed due date, but the operator may always override it as needed.

Contract labor cost types

The system is prompting for cost types to be used in tracking contract labor hours recorded through Accounts Payable.

  • Enter up to five labor cost types. For example, you can enter Burden, Equipment, Labor, Material, Other, or Rentals.

Default T + M labor bill code

Enter the default Time + Materials labor billing code.

  • This field displays only if one or more labor cost types are entered in the Contract labor cost types field.

  • If you have a Time + Materials phase or job, the labor bill code entered here will default to the Accounts Payable Invoice / Credit Memo Entry > Contract Hours screen.

Default invoice cost center

If using cost centers, enter a standard cost center that will be assigned to the invoice header during Vendor Invoice Entry.

Sub billing entry default

This option button determines the default quantity entry method for the Subcontract Billing Entry screen. Select one of the following options to set up the default subcontractor billing entry:

  • This period – if this option is selected, the software will stop at the Current period quantity field for entry.

  • Job-to-date – if this option is selected, the software will stop at the Job-to-date field for entry.

Default invoice due date calculations

Payment due date based on

Select Invoice date if payment due terms with this vendor are figured from the invoice date. If payment due terms are figured from the first of the following month, select First of next month.

Payment due - number of days

If the payment due terms are figured from the invoice date, enter the number of days allowed (e.g., "30" for net thirty days terms). If the payment due terms are figured from the first of the month, enter the date that payments are due (e.g., "10" indicates that payment is due on the tenth).

Discount due date based on

Select Invoice date if discount terms with this vendor are figured from the date of the invoice. If discount terms are figured from the first of the following month, select First of next month.

Discount due - number of days

If the discount terms are figured from the invoice date, enter the number of days allowed. If the discount terms are figured from the first of the month, enter the number of days allowed for a discount

Discount %

Enter the discount percentage allowed. Note that the actual percentage is entered; it is not necessary to convert the percentage to a decimal before entry. For example, if a five percent discount is allowed, type 5 and then press Enter; if a ten and sixty-four one hundredths percent discount is allowed, type 10.64 and press Enter.