Advanced - Setup

Options and controls with Advantage Financial allow you to tailor your system to meet your accounting procedures and reporting requirements. It is recommended that you do not change these options in the middle of the fiscal year. If changed, the integrity of your accounting records is jeopardized because the fiscal year will be governed by two different sets of accounting standards.

 This topic includes the following areas:

• Application Parameters (APPCTRL)

• Integration Parameters (INTCTRL)

• System Options (SOPT)

• System Special Accounts (SPEC)

• Transaction Control (DCTRL)

• Procurement Transaction Control (PRDOC)

• Payment Control - Vendor/Customer (VCUST)

• Payment Tolerances

• Return Reason Codes (RETREAS)

• EWS Status Mapping (EWSSTA)

• Department/Object Payment Control (DOBJPC)

• Payment Scheduling and Interest Control (PSIC)

• Recurring Payment Schedule (RPSCHD)

• Extension Reason (EXTNRSN)

• Retainage Fund Control (RTGFC)

• Electronic Account and Address Crosswalk (EAAD)

• Electronic Account Profile (EAPRO)

• Electronic Billing Data Source (EBDS)

• Procurement Card Setup

• Virtual Card Payables

Refer to the following topics for setup that is related to the Accounts Payable area:

• Disbursement Setup - The disbursement process issues checks/warrants or EFT records for payments that have been authorized from the Purchasing and A/P process. Payments are selected for disbursement based on payment schedule dates, vendor terms, and discounts. The disbursement process records, monitors, and controls all activities associated with the disbursement of funds. This includes generating checks/warrants/EFT/virtual card payments, and posting the activity to the ledgers and tables. Refer to the "Advanced - Setup" topic in the CGI Advantage - Disbursements User Guide for more information.

• 1099 Reporting Setup - In Advantage Financial, the 1099 Reporting Process includes defining reportability for Vendors defining types of income, and relating the income to the Chart of Accounts codes used during transaction processing. 1099 Reporting also includes the collection of information for events that are subject to 1099 reporting, backup withholding, and reporting the 1099 income to the Internal Revenue Service (IRS). Refer to the “1099 Reporting Setup” topic in the CGI Advantage - Tax Reporting User Guide for the list of pages that are used to set up 1099 Reporting.

• 1042-S Reporting Setup - In Advantage Financial, 1042-S reporting includes defining reportability for Vendors establishing income codes, tax rates, and allowable exemptions. It also includes the collection of information for events that are subject to 1042-S reporting, and reporting the income to the Internal Revenue Service (IRS). Refer to the “1042-S Reporting Setup” topic in the CGI Advantage -Tax Reporting User Guide for the list of setup pages necessary for 1042-S reporting.