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Payables - Setup for different companies, different banks, use same vendors and process in same check run
We are Peoplesoft FS 9.1 customer. We acquired a new company. What we want to do is assign new company vendors to a different disbursement account but process their checks at the same we process our parent company checks (as part of our check run instead of a separate one). New company vendors are under the parent company SetID because we want to share vendors. For every shared vendor, there will be two location tabs. One with parent company Bank info and one with new company bank info. The location assigned when AP enters the invoice will determine from which acct the disbursement is made.
Can anyone help us with this setup of the new company?
@Alicia Kinsey Thank you for your help. The user setup the first option and was able to proceed. Thank you.
@Julie Pierce It sounds like you just need to setup a new external bank account and assign that account to the specific vendor location. On the pay cycle selection page, you would need to add the new bank account and business unit. Your other option is to setup the new business unit to use a different setid for banks. Then, the disbursement account is driven by the business unit, not the vendor location. You can still add the new bank account to the pay cycle, as well as the new business unit. Changing the setid for the bank account will impact all modules, so if you are wanting to share bank accounts for cash management or receivables, then this wouldn't work.