The Business Partner Registration module is where the company's Business Partners (and their details) should be registered.
"Business Partners" is a term which encompasses companies who have either of these relationships with your company: as a Customer, as a Vendors/Supplier, or as both.
The module is located at Setup > Customer/Vendor > Business Partner.
Click on button "New" to add/register a business partner.
The window will transform into a business partner registration entry screen, with various fields to input relevant information about your business partner.
The top most section contains general information; the middle resides a table with multiple sets of address and contact details; the bottom contains two sets of default settings and details for this business partner, which of the two sets is applied depends on the type of document entry being created—AR or AP.
"BP Code" is a unique code assigned to this business partner. It is what the system uses to distinguish between and to identify each business partner.
If your company does not have an existing format for BP code yet, one should be created.
Consider having a systematic format which provides basic information at a glance, such as whether a particular business partner is a customer or a vendor (or both)
e.g. CO-[000] for customers; VO-[000] for vendors; CV-[000] for a business partner which is both.
Running no. format(s) for business partner registration can be created as well.
In which case, there can be a format for each business partner type, of which users would choose from when registering a new business partner.
Name field is a compulsory field, for the business partner's full company name.
UEN and Country are optional fields. If you would like to issue documents via Peppol to this business partner, then UEN field is required for obtaining the Peppol ID.
The bottom half of the registration is split into 3 sections: Customer, Vendor and PEPPOL.
Many of the fields have a Customer-side counterpart and Vendor-side counterpart.
The following are fields to facilitate default settings:
- Group
The Group field is where you select the Customer/Vendor Accounting Group which this business partner will be assigned to.
The Customer/Vendor Accounting Group lets
- Term
- This field sets the default payment terms that take effect on this business partner's billing documents
- The due date of each billing document is calculated accordingly
- Currency
- This field sets the default transaction currency of this business partner's documents
- The exchange rate of transactions are applied accordingly
- Tax
- This field sets the default tax code for each line item of this business partner's documents (where there is a tax column).
- Price Inclusive of GST
- Toggling this field also toggles on "Price Inclusive of GST" at each of this business partner's new document entries.
- Address
- This is a selection field, whereby the selected Address Code will be the default address (and contact detail) information for this business partner's documents.
Two things to note about the default settings above:
- When this business partner is selected on a new document entry, the relevant selections will appear by default. However, the user making the entry may change the selection where necessary, before proceeding to create the document.
- The same field type (e.g. Terms) can be different between Customer-side and Vendor-side settings. New document entries of this business partner will apply the appropriate selection(s) according to whether the document AR or AP.
The following are fields for storing details about the business partner, and do not affect its document entry:
- Remark
- Ref.
- P.I.C
- GST Reg. No.
Cr. Limit field allows you to set a limit to the amount of credit your customer may amass, until they must clear outstanding bills before buying on credit any further.
Once you have completed inputting the business partner's details, click "Add" to complete the registration.