Defines links between vendors and the general ledger with vendor posting groups.
Important
You must set up the necessary accounts in the Chart of Accounts window before you set up posting groups.
In the Vendor Posting Groups window, you specify the accounts to which the program will post transactions involving vendors in each posting group. The following accounts can be specified:
Payables
Service charges
Payment discounts
Invoice rounding
You use this window to assign a code to each vendor posting group. You can then enter the code in the Vendor Posting Group field on each vendor card. After this, when you post orders, invoices, credit memos, payments, and so on, the program will use the information represented by the code to post to the accounts you specified.
You can also assign general business posting groups to your vendors. The business group code is then used in combination with a general product posting group code in the General Posting Setup window to specify the accounts to which certain transactions are posted.