Accounts Payable Vendors Creating a New Vendor

Creating a new Vendor (continued)

Vendor Form

Identification

This section is optional, but recommended for reporting purposes.

Federal ID – This field is used to enter the Vendor’s Federal Tax ID number if applicable.

Social Sec # – Enter the Social Security Number for the Vendor if applicable.

Issue 1099 – If your company needs to issue a 1099 for the Vendor, select this option.

Payables

This section is optional, but recommended for reporting purposes.

EXP Account – Enter the default General Ledger Account number to use for posting Accounts Payable bills or credits.  This may be overridden when creating bills.

Default Cost – Optional; if you purchase one expense item exclusively, the User may enter the default cost of that item.

Terms – Required; enter the default Terms to be used when bills are entered.

Credit Limit – This is an informational only field to enter your credit limit with the Vendor.

PO Memo – Information entered into this field will print on all purchase orders created for the Vendor.  Example: All bills submitted must reference Purchase Order Number.

Notes

This is a free-form text field where the User may enter up to 255 characters of information about this Vendor.  This is for internal use only and will not print on any accounts payable document or form.

 

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