Trading details (purchase account)

Use the Trading tab to enter your supplier's VAT information, default nominal account and analysis codes.

To enter your trading details

Open: Purchase Ledger > Purchase Accounts > Enter New Account

Open: Purchase Ledger > Purchase Accounts > Amend Account Details

  1. Select the Trading tab.
  2. Enter your Trading details.

    • Country Code.

      The country code selected here is the supplier's country for VAT purposes. This is used when calculating EU VAT. This is taken by default, from your company details in Accounting System Manager.

      The country specified on the Company Details tab is a postal address only.

    • Default VAT code.

      This is the VAT code you want to use for this supplier.

    • VAT number.

      This is your supplier's VAT registration number.

    • Keep transactions for.

      Enter the number of months (up to 36) you want to store transactions on the supplier's account. After this time the transactions are archived or can be deleted.

      The default for this is set using Account history options on the purchase ledger settings Supplier Defaults tab.

    • Order priority.

      Select the priority from the drop-down list. Set the level of importance for orders placed with this supplier when the order is entered in the Purchase Order Processing module. A is the highest priority and Z is the lowest.

      This is only applicable if you use the Purchase Order Processing module.

  3. Enter the Default nominal code.

    This is the nominal account you want to use to post the purchase values, when entering transactions for this supplier. You can change this on individual transactions if required.

    This must be a posting account. The Default nominal code most commonly used for this account is default purchase account, which is a profit and loss nominal account.

  4. Select the Analysis codes for this supplier.

    The Analysis codes that you set up in the Purchase Ledger are displayed by default. Select the relevant Value for each code from the drop-down list.

    You can use the analysis codes to filter transactions on your reports.