What is the significance of one time vendor, can we post more than  one invoice in fiscal year?

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Use One-Time-Vendor Master

In one time vendor we are not maintaing master data. Because the details of the vendor is entered only at the time of entering invoice. After that we can't use the details of the one time vendor. But you can post more than one transactions for that one time vendor. In Normal vendor, we key in all vendor details at the time of vendor creation. But it is not possible to convert one time vendor to normal vendor.

You can create special vendor master records for vendors from whom you procure goods only once or rarely, so-called One-Time Vendor Master Records.  For example, suppose you order goods from a vendor with whom you usually do not place orders, because your main vendor was not able to supply the required items. In this case, you would use a "one-time vendor" master record.

When creating a "one-time vendor" master record, you must assign a one-time account group. This account group determines that the vendor-specific fields are suppressed. You don’t need to enter this data until the time a purchasing document (e.g. a PO) is created.

When you create a purchasing document with a one-time vendor, you will be asked to enter the vendor address. Enter the vendor’s name and address.  Like all other master records, you can display, block, or delete one-time vendor master records.

One-Time Accounts (FI)

An account in which transaction figures are recorded for a group of customers/vendors with whom you conduct business once or rarely. One time account requires a special master record.  For all customers / vendors with whom you rarely do business, a special customer/vendor master record should be created.  No data specific to a single customer/vendor is stored in this One Time master record, since this account is used for more than one customer/vendor.  Therefore fields like address, communication, bank data are suppressed. 

You invoice a customer who purchased goods from you because his main vendor could not supply them. In this case, you post the invoice to a one-time vendor account instead of creating a separate master record. 

When you post to a one-time account, the system automatically goes to a master data screen. On this screen, you enter the specific master data for the customer, which is stored separately in the document. This includes name, address, and bank data, for example.

You process the master record for a one-time account in the same way as you process all other customer master records. You can dun open items from it with the dunning program or pay items using the payment program. The functions for one-time customers are only different in a few aspects. For example, you cannot clear amounts with a vendor. 

Reconciliation Accounts
To create one-time master records, you have to specify a reconciliation account. If you differentiate between reconciliation accounts in your company, you will need to take this into account when creating one-time master records. You may, for instance, have different reconciliation accounts for domestic and foreign receivables. You would then have to create two one-time master records.

Line Item Display
For line item display, you should enter a key for sorting line items in the Sort key field. Keys 022 and 023 are provided in the standard system. You may define other keys that are specific to your company. Keys 022 and 023 have the following meanings:

- Enter 022 to have the system sort and display line items by name and city.
- Enter 023 to have the system sort and display line items by city and name. The line items of customers in the same city are displayed together. 

Sort criteria can also be specified when entering a document. These criteria will override the sort keys specified in the master record.

When creating a one-time account, use the appropriate account group (such as "one-time account" in the standard system).

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