iXERP provides comprehensive suppliers information to keep all your suppliers’ information in one place, you can add unlimited suppliers or edit their information.
Recording suppliers data is mandatory to start the procurement process, like purchase orders, goods receive and supplier invoices.
Some important notice:
- iXERP generate unique supplier code automatically, although Supplier Short Name is the unique supplier identifier in the system and cannot be repeated.
- It is important to select the right Tax Group for the supplier, iXERP will calculate suppliers tax and VAT automatically.
- Select supplier Payment Terms to plan your supplier payments and aged supplier invoices – This will represent the default payment terms in Purchase Order and Invoices – You can add more Payment Terms as your business required.
- It is very important to adjust the supplier accounts, this will help iXERP to generate the correct supplier transactions journal entry
- The default accounts can be set up in System and General GL Setup.
- Supplier Purchase Account – you can set a specific purchase account per supplier or supplier group, although in some cases if you would like to use the item/products/services specified account, then leave “Use Item Inventory/COGS Account” selected.
- The supplier currency is very important to be set as it will be your supplier Order/Invoice currency.
- Supplier Contact Data sets the default company contact information, you can add unlimited more supplier contacts in the Contacts tab.
- iXERP create a General contact type for the first contact entered when you create a new supplier based on data entered in the data entry form.
- It is not possible to delete the supplier record after you enter a transaction for this supplier even if the transaction is deleted, In this case, you can use Supplier status = Inactive to deactivate a supplier and accordingly it will not appear in the list of the suppliers for new transactions entry, although suppliers previously recorded transactions and transactions history still exist and will appear in the reports.
- After you save a supplier record, “Prices contain tax included” field cannot be edited, so make sure what pricing model your supplier will use in their invoices, this will help in tax/VAT calculation and correct accounting entry.