Step 1 – Search for Vendors using the magnifying glass at the top right and select Vendors. On the Vendor List page, select +New to add a new Vendor.
This will open a blank Vendor card page.
Step 2 – On the blank Vendor Page, in the General Section and the address & Contact tab, enter the fields underlined in the screenshot below.
Step 3 – In the Invoicing Tab, enter the posting details.
- Gen. Bus. Posting Group – Is always UK.
- Vat Bus. Posting Group – Is always UK
- Vendor Posting Group – Select Vendor as we are creating a Vendor.
- Enter Purchase Type as Standard as we are creating a Vendor.
Step 4 – In the Payment Tab, Enter the fields underlined in the screenshot below.
- Payment Terms Code – indicates the Payments terms used for calculating the due date of payments to be made against the vendor.
- Payments Method Code – Enter as BACS as we use this to send payments via BACS method.
- BACS Account No – This is where we specify the Vendors Bank Details. (Steps to enter bank details below).
To enter bank details of the vendor. Select the Drop-down arrow as in the screenshot below.
This will open a window, click on “+New”.
Now you have opened a blank Vendor Bank Account Card.
Enter a Code. (Usually 1)
Enter the Country/Region Code, Bank Account Number and Sort Code. As shown above.
Enter the Reference No. which will default as payee reference when making payments.
Once all information is filled, click on the back arrow to come back and select the Code which you have given as per drop down window of screenshot below.
- Completing steps 1 to 4 completes the vendor information required. Now we setup dimensions for the vendor.
- Dimensions are important while creating a vendor because it helps in financial reporting across UL.
- Mainly for a vendor. It is always recommended to add the Pillar, Cost Code and Division Dimensions.
Step 5 – On the header tab of the Vendor card, click on Vendor Tab and then click on Dimensions.
Step 6 – This will open a blank Default Dimensions page.
Click on the first line with arrow, this will open a drop-down list, you can either scroll and select Pillar or type ‘Pillar’ and select from the list.
On the second line and third line do the same and enter Cost Code & Division.
We selected Pillar as ULIS and Division as Water because we were in UL Water BC Entity and UL Water comes under ULIS (Infrastructure). Follow this same logic for different Entities.
When selecting Cost Code, keep the Dimension Value code empty and select Code Mandatory in Value Posting.
If Step 6 followed correctly, it will look like the screenshot below, if there are any errors, Refresh page, repeat step 6 from beginning.
Step 7 - Once all steps 1 to 6 are completed. You can click on the back arrow to come back to vendor page.
You can now enter the Vendor Name or Vendor No. to find the vendor and select the Vendor to view information.
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