Vendor Groups

A short, unique identifier used across procurement and accounts payable processes to group vendors with common settings, financial posting profiles, and reporting needs. This is a foundational classification for vendors that must be unique per legal entity.

A descriptive name for the vendor group that appears in lists, forms, and reports, aiding user comprehension and categorization. This is user-facing and should be clear and concise.

Specifies the default method by which payments are typically made to vendors in this group (e.g., CHECK, EFT, ACH). This value defaults to new vendor records and purchase orders, ensuring consistency in payment processing and compliance with treasury policies.

Defines the default due date and potential discount periods for vendor invoices (e.g., NET30, 2/10 NET30). This value defaults to new vendor records and purchase orders, directly impacting cash flow, supplier relationships, and accounts payable scheduling.

The three-letter ISO currency code (e.g., USD, EUR) that serves as the default currency for purchasing and invoicing with vendors belonging to this group. This defaults to new vendor records and helps ensure consistent currency usage for group members in purchasing documents and financial transactions.