Trading details (purchase account)

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

To enter your trading details

Open: Purchase Ledger > Purchase Accounts > Enter New Account | Trading.

Open: Purchase Ledger > Purchase Accounts >Amend Account Details.

Select existing purchase account reference.
Select Trading tab.

Enter your Trading details.

Country Code.

The country code selected here is the supplier's country for tax purposes. This is used when calculating EC 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 Tax code.

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

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.

About using cost centre breakdown

If you have chosen to use cost centre breakdown with your balance sheet accounts, you must have created balance sheet nominal accounts with the appropriate cost centres and departments.

For example, if your default purchase nominal account is 41100 SAL ADM, your invoice will post to the VAT Input nominal account and Creditors Control nominal account with the same cost centre and department. This is illustrated below:

Nominal Account	Cost Centre	Dept	Debit	Credit
41100 - Default Purchases	SAL	ADM	150
15100 - VAT Input	SAL	ADM	25.59
25100 - Creditors Control	SAL	ADM		175.59

If you have not created the relevant balance sheet nominal accounts, the values post to your suspense account.

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.