Creating and Assigning a Related Party Analysis Field

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If your establishment/organisation has suppliers that are a related party i.e. a group supplier or an supplier that is an investor in the establishment/organisation which may lead to the supplier possessing the ability to modify the terms of supply for their own benefit, then within the supplier account the status of related party needs to be recorded.

This is achieved by creating an analysis field against the supplier accounts called ‘Related Parties’ and setting it as a ‘yes/no’ field (similar to the counter party).

This analysis field can be used to report on how much is being spent with these suppliers by using a Ledger List and Current Commitments report.

Creating the Related Parties Analysis Field

1. Select Maintenance, then select Analysis Fields from the menu.
   

2. The Analysis Field Maintenance window is displayed. To add a new analysis field, select ADD NEW, then select ANALYSIS FIELD.
   

3. A <New item> is displayed in the left-hand panel and is automatically selected. Enter a title for the analysis field, e.g. Related Party in Title.

4. Next, select the type of data to be recorded in the field. Select Yes/No from the Type drop-down list.
   

5. Next, enter a description for the analysis field in Description. In the following example, Related Party Supplier, has been entered. When you have entered all the required analysis field details, select SAVE.
   

6. An Update complete message is displayed. Select OK to close the message and return to the previous window.
   

Assigning the Related Parties Analysis Field to the Purchase Accounts Ledger

1. Select Maintenance, then select Ledgers from the menu.
   

2. The Ledger Maintenance window is displayed. Select PURCHASE - Purchase Account from the left-hand panel, select the Analysis Fields tab, then select EDIT.
   

3. To link the related party analysis field, select ADD NEW, then select ANALYSIS FIELD. Double-select to select the Related Party analysis field from the Select analysis fields dialog.
   
   

4. The Related Party analysis field is displayed in the analysis field list and automatically selected. Select Mandatory, to ensure that the analysis field is completed when entering or updating a supplier details, then select SAVE.
   

5. An Update complete message is displayed. Select OK to close the message and return to the previous window.