4. Enter the default Number of Months History that the Purchase Ledger is
to store. This is usually at least 24 months, but you can increase this if
required.
5. Tick the check-box for the Options you want to apply to the purchase
ledger. Using Pre-printed Stationery will indicate that it is not necessary
for the system to print your company contact details and column headings
on forms generated to suppliers such as Remittances and Purchase
Orders. Settlement Calculation by Due Date Indicator applies
settlement discount depending on the due date indicator set in Supplier
Details, and not from the invoice date. For example, you may have 30
days from the end of the month to settle an invoice but the settlement
discount may only be available from the invoice date. In this case you
would leave this box un-ticked. Override Settlement Discount - tick this
check-box if you wish to use the settlement discount override feature when
posting supplier invoices and credit notes. Leave it un-ticked to suppress
this feature.
6. Consolidate Nominal Transactions - in a batch there may be several
purchase ledger transactions that are to be coded to the same nominal
account code resulting in multiple postings to that nominal account.
Consolidating the nominal transactions will post a single transaction to
each nominal code rather than multiple transactions per batch. Tick the
check-boxes for any form of purchase ledger posting where you would
want the nominal update consolidated. Hint: payments by cheque will
come out of your bank account as separate amounts so you should not
tick the Cash box. This will make bank reconciliation easier.
7. Use the Payment Methods drop-down menus to select the indicators to
represent Bacs and Cheque payments and select the default payment
method which appears when you Create a New Supplier. See also: Create Supplier Payment Methods.
8. Use the drop-down menus in the Nominal Code column to select the
nominal account code that represents each of the items listed.