Default Transaction Configuration - Bill Pay

Overview

The Default Transaction Configuration section defines how Bills from Ramp will be created in FENXT. These default values ensure all transactions meet the required fields in FENXT's APIs and help streamline transaction processing.

This guide explains how to configure the Bills tab within the Default Transaction Configuration screen.

Accessing the Card Transactions Menu

1. Navigate to Settings > Bills

Default Settings - Invoice

For Invoices, the default settings are as follows:

• Invoice # Prefix - Prefix of the invoice number to be used when the invoice is created in FENXT.
• Liability Account - By default, only 20 records will be shown. You can search in this field to select which account you would like to set as the default. 
• Invoice Payment Method - Set the default payment method to be listed on the invoice.
• Post Status - Determine the default post status when the invoice is created. Options are Not Yet Posted or Do Not Post.
• Attachment Type - Select which attachment type to be used when attachments are passed to FENXT. Attachment Type
• Projects - By default, only 20 records will be shown. You can search in this field to select which account you would like to set as the default. 
• Class - By default, only 20 records will be shown. You can search in this field to select which account you would like to set as the default.
• Transaction Codes - If your organization uses the transaction codes, select for each transaction code whether you would like to use the code when not available on the Default Account or to Always use this.
• Enable Manual Payments - Determine whether your organization would like to enable manual payments or not.

• Payment Setup for Check
  • Mark Invoice as Paid - Option to mark invoice as paid when it comes into FENXT when using the check payment method
  • Default Bank Account - Select the default bank account to be used when the payment is check.
• Payment Setup for Credit Card
  • Mark Invoice as Paid - Option to mark invoice as paid when it comes into FENXT when using the credit card payment method
    
  • Default Credit Card Account - Select the default credit card account for the invoice payment.
  • Default Credit Card - Select the default credit card for the invoice payment.
• Payment Setup for Electronic Fund Transfer
  • Mark Invoice as Paid - Option to mark invoice as paid when it comes into FENXT when using the EFT payment method
• Payment Setup for Bank Draft
  • Mark Invoice as Paid - Option to mark invoice as paid when it comes into FENXT when using the bank draft payment method
• Invoice Line Item Description - Select how the invoice line item description should be formatted. You can include the combination of employee name, merchant, and memo.

• Defaults for Vendor Setup -When a new vendor is created in FENXT, select the defaults to be set for this new vendor once it has been created:
  • Vendor Type - Select Individual or Organization
  • Status  - Active, Inactive or On hold
  • Payment Method - Bank Draft, Check, Credit Card or Electronic Funds Transfer
  • Payment Terms - What terms you would like to use when this vendor is created
  • Payment Option - One payment for all invoices or one payment per invoice.
• ** NEW ** - 1099 Distributions - If your organization utilizes 1099 Distributions in Ramp, use this setting to add the 1099 information based on what is in the vendor record.

NOTE: Once you have finished setting your defaults, be sure to click the Save Bills Defaults button to save your new settings.