FlairSuite video tutorial
Set up payment terms and purchase options
Add a payment term for your suppliers, and see the purchase options that shape your orders and invoices.
Transcript
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Before you order from suppliers, take a minute to set up purchasing. In this video, we add a payment term and look at the main purchase options.
Sign in, then open System, Apps Settings, Purchases. The menu on the left groups everything: Tax Management for purchase taxes, Reference Data for payment terms, and Settings for the general options.
Click Payment Terms. A payment term tells your supplier when they will be paid, for example thirty days after the invoice.
Click Add Payment Term. Give it a clear name, the number of days, thirty here, and a short text that explains it. Then save.
The new term is now in the list. From now on, you can choose it in the Payment Terms field of a purchase order, so the supplier knows when to expect payment.
Now open General Settings. Finalize adds a second approval, after the buyer picks the products and prices. The next switches hide the quantity on account lines, and show a delivery schedule date on each order line. The last list sets whether new invoice lines start as products or accounts. These apply to the whole company, so we only look, and don't save.
We added a payment term and saw the main purchase options. Next, watch Order goods from a supplier, to place your first purchase order. Thank you for watching.
Keep learning
More purchasing and suppliers videos
Length 1:59Add a new supplier
Add a supplier with its name, phone, e-mail and address, find it in the Suppliers list and see its details, and see where archived suppliers are…
Length 1:49Set up how your cheques print
Create a cheque design for a bank account, open its layout, and see the crossings a cheque can print with.
Length 1:43Record a petty cash expense
Write up a small cash purchase as a petty cash voucher, then send it for approval so it is posted to your accounts.
Length 1:44Set up a petty cash book
Add a separate petty cash book, for example for a branch or a cashier, with its own cash account, manager and approval, and find it in the menu.
Length 1:53Order goods from a supplier
Create a purchase order — choose the supplier, add a product with its quantity and price, save it and find it in the Purchase Orders list.
Length 2:04Order goods and approve the order
Create a purchase order for your supplier, add the product with its quantity and price, then send it for approval and approve it.
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