Buying Group Check

Owned by Stephen Juliano (Unlicensed)
Last updated: Mar 01, 2023 by Stephen Juliano
3 min read

Table of Contents

Overview

     A Buying Group consists of a large group of dealers which are able to take advantage of discounts and incentives from certain vendors due to collective volume. When purchases are made from those vendors; only one check needs to be cut to the buying group, which in turn pays the vendors. The TRX Enterprise Buying Group Check function makes what could be a tedious task of tracking and itemizing all vouchers and purchases that went through buying group vendors and merging them into one payment, a one-mouse click process!

     With a few setup steps you will be able to create Purchase Orders to the individual vendor, and when a PO is vouchered, the vouchers will be to the individual vendors. With the buying group check, you are able to take several vouchers from different vendors and cut one check to the buying group.  TRX Enterprise will create documents on each vendor account to mark them "paid". After cutting the check to the Buying Group you will get an itemized print out of the Vendors and Purchases Orders that were paid out.

Detail

Buying Group Setup

In order for the Buying group check process to work you must go through some quick setup procedures.

  1. We will need to declare a buying group vendor and a Buying Group Vendor Type in the A/P setup Module. The buying group vendor will be the Buying group itself; this is who the buying group checks will be made out to. The buying group vendor type will be assigned to every vendor that is associated with your buying group.

     2. After declaring the buying group vendor type you will need to assign that vendor type to every buying group vendor, so that TRX will know who to bring into the buying group check process. 

Creating a Buying Group Check

A/P > Buying Group Check

 
The default Bank and Vendor Information will default into the header of the screen. Any unpaid vouchers for vendors that belong to your designated buying group vendor type will appear at the bottom of the screen. You will be able choose all vouchers by using the "Pay All" icon or you may select them by double clicking on the individual voucher.

  • Check Format – select the check format to be used from the drop down list.

  • Bank – selecting the bank specifies the cash account to be credited for the checks.

  • Next check - The next check number to be used displays but can be changed if necessary.

  • Check Date – The Check Date is the date that is printed on the checks and is also used for the date of the General Ledger transactions.

  • Memo – notes entered here will appear on the Memo line on the check.

  • To The Order Of – enter the Buying Group code or press F9 to access the Find Vendor screen.

  • Pay All. – To pay all vouchers or double-click on the vouchers to be paid.

     3. Click on the lightning bolt to process and print checks.

     4. Process the check to get your Buying Group Check Remittance Report