Set up trade partners

Trade partners are customers or vendors linked to an actual cost or revenue and sending or receiving invoices for costs or revenues. So first, the expected costs or revenues will be posted and after posting the invoice from the trade partner with the actual costs, the expected costs will be reversed and replaced by the actual cost or revenue.

For example, an external commissioner who is paid a commission or a customer who is paid a rebate at the end of the year.

1. Select the Search icon , enter Trade Partners, and then choose the related link.
   The Trade Partners list page opens.
2. On the action bar, choose the New action.
3. In the No. field, on the General FastTab, select the lookup button.
4. Select the required Code.
   The number series linked in the trade management setup is shown. The next number in the series is then inserted in the No. field. If the Manual Nos. field is selected for the number series, then you can enter any number manually.
5. Select OK.
6. On the General FastTab, select the required option from the Source Type field.
   When a trade rate is a cost, a purchase invoice is received for the costs, then the trade partner must be a vendor. When the trade rate is a revenue, a sales invoice must be sent and the trade partner must be a customer.
7. In the Source No. field, choose the related link.
   Depending on the selected source type, vendors or customers are shown.
8. The Name field specifies the name of the trade partner.
9. On the Contact Info FastTab, in the County field, specify the state, province, or county of the address.
10. On the Trade Settings FastTab, in the Gen. Prod. Posting Group Expected Cost field, select the required Code from the drop-down menu.
    The product posting group specifies which group is used when the system posts the expected cost.
11. On the Trade Settings FastTab, in the Invoice Method field, choose the relevant option from the drop-down menu.
    It specifies how costs or revenues are invoiced. Possible options are:
    • Invoice: trade partner sends invoice
    • Trade Statement: you create an invoice via a trade statement
      You cannot open the Get Trade Accrual Entries for the Purchase Invoice if the Invoice Method is selected as Trade Statement for the trade statement on the Trade Partner Card page. It works similarly for the following documents:
    • Purchase Invoices
    • Sales Invoices
    • Sales Credit Memos
12. The Trade Statement Inclusion for Sales field allows you to choose which trade accrual entry record should be included in a Trade Statement. Select the related options from the drop-down menu. When the option is selected as Invoice, all the entries from the trade accrual entries are included. With the option set to Payment, only the entries relating to the closed invoices and credit memos are included in a Trade Statement.

    
    This field is visible only when the Invoice Method field is set to Trade Statement on the Trade Partner page.

13. On the action bar, select Related > Issued Trade Statements. This action allows you to view all the trade statements that are issued for the selected trade partner.
14. On the action bar, select Related > Trade Statements. This action allows you to view all trade statements that are not yet been issued for the selected trade partner.

    
    You cannot access the Issued Trade Statements and Trade Statements actionswhen one or more trade partners are selected.

15. On the action bar, the Create Trade Statements action helps you to create a new trade statement for a selected trade partner. From this you can see all the revenue and costs for a specific trade partner.