Supplier
Suppliers are companies or individuals who provide you with products or services.
To access the Supplier list, go to: > Home > Buying > Supplier > Supplier
1. How to create a Supplier
- Go to the Supplier list and click on New.
- Enter a name for the supplier.
- Select the supplier group whether Pharmaceutical, Hardware etc.
- Save.
The options to Warn RFQs, POs, Prevent RFQs, POs will be available once you create a Supplier Scorecard and transactions are made.
2. Features
Fields in upcoming transactions will be automatically filled if the ‘Default’ fields, such as Default Bank Account, Default Payment Terms Template, etc., are configured in the Supplier settings.
2.1 Tax details
- Country: If the supplier is from another country, you can change it here.
- Tax ID: Tax identification number of the supplier.
- Tax Category: This is linked to Tax Rule. If a Tax Category is set here, when you select this supplier, the respective Purchase Tax and Charges template will be applied. This template is linked to the Tax Rule and the Tax Rule is linked with a Tax Category. Tax Category can be used to group suppliers to whom same tax will be applied. For example: Government, commercial, etc,.
- Print Language: The language in which the document will be printed.
- Tax Withholding Category: For India, TDS category for the Supplier. On setting a category here, it will be fetched into the Purchase Invoice. For more information, visit the Tax Withholding Category page.
- Disabled: Disables the Supplier and they won’t be shown in the Supplier List.
- Is Transporter: If the supplier is selling your transport services, tick this box. ‘GST Transporter ID’ field will be visible if this field is ticked.
- Internal Supplier: If the supplier is from a sister or parent/child company, tick this field and select the company which they represent.
For India:
- GST Category: Select a GST Category of the supplier.
- PAN: For India, PAN (Permanent Account Number) card details of the Supplier.
2.2 Allow creation of Purchase Invoice without Purchase Order and Purchase Receipt
If the “Purchase Order Required” or “Purchase Receipt Required” option is configured as “Yes” in Buying Settings, it can be overridden for a particular supplier by enabling the “Allow Purchase Invoice Creation Without Purchase Order” or “Allow Purchase Invoice Creation Without Purchase Receipt” in the Supplier Master.
2.3 Currency and Price List
Billing Currency: Your supplier’s currency may differ from your company’s currency. If you select JPY for a supplier, the currency will be automatically filled as JPY, and the exchange rate will be displayed for future purchase transactions.
Each supplier can have a default Price List, ensuring that every time you purchase a new item from this supplier, the associated price list will be updated accordingly. Under the price list, you can view item prices in Buying > Items and Pricing > Item Price.
When you select a specific supplier, the associated Price List will be retrieved in purchase transactions.
2.4 Credit Limit
- Default Payment Terms Template: If a Payment Terms template is specified here, it will be automatically applied to future purchase transactions.
- Block Supplier: You have the option to block invoices, payments, or both from a supplier until a specific date. Choose the ‘Hold Type’; if left unspecified, BizCentric will default it to “All”. When a supplier is blocked, their status will be displayed as ‘On Hold’.The hold types include:
- Invoices: Prevents creation of Purchase Invoices or Purchase Orders for the supplier.
- Payments: Prevents creation of Payment Entries for the supplier.
- All: Encompasses both hold types mentioned above.
If no release date is set, BizCentric will maintain the hold on the supplier indefinitely.
2.5 Default Payable Accounts
Specify the default account from which invoices related to this supplier will be paid. You can add additional rows for more companies, with the provision to select only one account per company.
You have the option to integrate a supplier with an account. By default, the “Creditor” account is designated as the default payable account for all suppliers. When a Purchase Invoice is generated, the payable amount towards the supplier is recorded against the “Creditors” account.
Should you wish to customize the payable account for a specific supplier, you must first include a payable account in the Chart of Accounts. Subsequently, you can select this payable account in the Supplier master.
If you prefer to proceed with the default payable account “Creditor” and do not wish to customize the payable account, leave the Default Supplier Account’s table unchanged.
>Tip: The Default Payable Account is configured in the Company master. If you desire to designate another account as the default payable account instead of the Creditors Account, navigate to the Company master and designate that account as the “Default Payable Account.”
Depending on your plan, you can add multiple companies in your BizCentric instance. One Supplier can be used across multiple companies. In this case, you should define Company-wise Payable Account for the Supplier in the “Default Payable Accounts” table, i.e, add multiple rows.
2.6 More Information
In this section, you can include the supplier’s website and any supplementary information about your supplier. By selecting the ‘Is Frozen’ option, you can freeze accounting entries for the supplier. Only users assigned the role specified in ‘Role Allowed to Set Frozen Accounts & Edit Frozen Entries’ under Accounting > Settings > Accounts Settings will be able to override this freeze. This feature is handy when updating the supplier’s name or bank details.
2.7 Address and Contacts
Contacts and Addresses in BizCentric are stored separately so that you can create multiple Contacts and Addresses for one Supplier. Once Supplier is saved, you will find the option to create Contact and Address for that Supplier.
> Tip: When you select a Supplier in any transaction, Contact for which “Is Primary” field id checked, it will auto-fetch with the Supplier details.
2.8 After saving
Once all the necessary details are filled, save the document. On saving, options to create the following will be seen in the Dashboard:
- Request for Quotation: An RFQ against this supplier.
- Supplier Quotation: Any quotations that the supplier has sent you and you have submitted into the system.
- Purchase Order: Purchase Orders you’ve made against this supplier.
- Purchase Receipt: Purchase receipts given by this supplier that you’ve saved in the system.
- Purchase Invoice: Purchase Invoices you’ve made against this supplier.
- Payment Entry: Payment Entries for the Purchase Invoices against this supplier.
- Pricing Rule: Any Pricing Rules linked with this supplier. See section 2.2 Currency and Price List to know how it works.
By clicking on the View button, you can view the Accounting Ledger or Accounts Payable directly for this supplier.
There’s a button to ‘Send GST Update Reminder’ to the supplier. You need to have a default email account setup first.