The steps for setting up the Accounts Payable System are listed below:
1. Set up the general ledger accounts, do not enter any balances at this time.
2. Enter any payment terms offered by your vendors in the payments terms file.
3. Enter the vendors into the vendor master file. If you are setting up multiple systems, accounts receivable, inventory, etc., their masters should be set up at this time also.
4. Set up the general ledger balances.
5. Set up the module balances. This chapter describes the set up of the vendor balances.
6. Set up aging periods for the aging reports.