About vendor invoice defaults

The information you provide on the Invoice Defaults tab helps Sage 100 Contractor post an invoice and create the job cost records.

Default	What it does
Due Terms	Determines the date by which payment is due. In Sage 100 Contractor, a cycle is represented by ##DY (a number of days), ##MO (a number of months), and ##TH (a specified day every month). You replace the ## symbols with the number of days or months, or the day of the month for the processing cycle. For example: 30DY means due every 30 days. 02MO means due every two months. 25TH means due on the 25th day of each month.
Discount Terms	Determines the date by which payment is due for your business to receive a discount.
Discount Rate	Determines the discount rate for early payment.
Use Tax Rate	Determines the use tax on out-of-state purchases.
Work Comp Rate	Sets up the vendor record of a subcontractor with the employer’s compensation rate. When entering the payable invoice, you can charge the subcontractor for coverage based on the invoiced amount. The charge appears as a credit on the subcontractor’s invoice.
Ledger Account	Determines the default ledger account to which invoices are posted. For a materials supplier, for example, enter the materials expense account number. When you enter a payable invoice, the material expense account defaults to the grid. Some vendors may not post to one account regularly. If there is not a common account used by a vendor, leave the Ledger Account box blank.
Cost Code	Determines the cost code to which you post the vendor. Because cost codes may vary each time you post a record, consider leaving the Cost Code box blank. Alternately, you can enter the lowest numbered cost code used by the vendor. You can then use the Lookup window to display cost codes starting in the appropriate area.
Cost Type	Determines the cost type to which you post the vendor. Usually the cost type corresponds to the ledger account.
Invoice Status	If you want to review all invoices or payments for a vendor, assign the vendor record Invoice status 2-Review. Otherwise, Sage 100 Contractor assigns status 1-Open.
Purchase Order Warning	Restricts the ability to save payable invoices.
Allow Duplicate Invoice Number	Lets you enter duplicate invoice numbers for a vendor. The Invoice Number text box in the Payable Invoices window can be set up to require a unique invoice number. The Allow Duplicate Invoice Number check box lets you supersede the requirement for a unique invoice number for specific vendors such as the phone company.
Separate check for each invoice	Tells the system to print separate checks for each invoice for each vendor.
Put on the Hot List	Automatically puts the vendor's invoices on the Hot List.

Default

What it does

Due Terms

Determines the date by which payment is due.

In Sage 100 Contractor, a cycle is represented by ##DY (a number of days), ##MO (a number of months), and ##TH (a specified day every month). You replace the ## symbols with the number of days or months, or the day of the month for the processing cycle. For example:

30DY means due every 30 days.
02MO means due every two months.
25TH means due on the 25th day of each month.

Discount Terms

Determines the date by which payment is due for your business to receive a discount.

Discount Rate

Determines the discount rate for early payment.

Use Tax Rate

Determines the use tax on out-of-state purchases.

Work Comp Rate

Sets up the vendor record of a subcontractor with the employer’s compensation rate. When entering the payable invoice, you can charge the subcontractor for coverage based on the invoiced amount. The charge appears as a credit on the subcontractor’s invoice.

Ledger Account

Determines the default ledger account to which invoices are posted. For a materials supplier, for example, enter the materials expense account number. When you enter a payable invoice, the material expense account defaults to the grid.

Some vendors may not post to one account regularly. If there is not a common account used by a vendor, leave the Ledger Account box blank.

Cost Code

Determines the cost code to which you post the vendor. Because cost codes may vary each time you post a record, consider leaving the Cost Code box blank.

Alternately, you can enter the lowest numbered cost code used by the vendor. You can then use the Lookup window to display cost codes starting in the appropriate area.

Cost Type

Determines the cost type to which you post the vendor. Usually the cost type corresponds to the ledger account.

Invoice Status

If you want to review all invoices or payments for a vendor, assign the vendor record Invoice status 2-Review. Otherwise, Sage 100 Contractor assigns status 1-Open.

Purchase Order Warning

Restricts the ability to save payable invoices.

Allow Duplicate Invoice Number

Lets you enter duplicate invoice numbers for a vendor.

The Invoice Number text box in the Payable Invoices window can be set up to require a unique invoice number. The Allow Duplicate Invoice Number check box lets you supersede the requirement for a unique invoice number for specific vendors such as the phone company.

Separate check for each invoice

Tells the system to print separate checks for each invoice for each vendor.

Put on the Hot List

Automatically puts the vendor's invoices on the Hot List.

More resources

For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.

For additional training on Sage products, visit Sage University.