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This chapter is from the book

This chapter is from the book

Adding Vendors

Vendors are businesses and people who regularly sell you goods and services. When you enter vendor information in QuickBooks, you have all the details you need to contact your vendors, prepare purchase forms, process year-end 1099 forms, write checks, and create reports of your company's spending.

Enter Vendor Address Information

one.jpg Click the Vendor Center button on the toolbar. In the Vendor Center, select the Vendors tab. Click the New Vendor button at the top of the Vendor list to open the New Vendor window.
two.jpg Enter a name for the vendor. This is the name you will use to select the vendor from your vendor list. It doesn't have to be the name printed on vendor forms or checks.
three.jpg If a balance is due to this vendor at your company's QuickBooks start date, enter the amount and the start date in the Opening Balance field.
four.jpg Enter the vendor's legal name in the Company Name field. This is the name that appears on forms you prepare for this vendor.
five.jpg Enter the name of a personal contact, if applicable, and the mailing address of the vendor.
six.jpg Enter other pertinent information that you want to save.
seven.jpg If there is a name other than the Company Name that needs to appear on checks to this vendor, enter that name in the space provided.

Enter Additional Vendor Information

one.jpg Click the Additional Info tab to access another page of information for the vendor.
two.jpg Enter an account number. This is the number that this vendor has assigned to your company.
three.jpg For categorizing purposes, enter the type of goods or service you acquire from this vendor.
four.jpg Enter the terms your vendor has given you, if applicable. The payment terms you enter allow your QuickBooks program to calculate the due date of payments owed to this vendor.
five.jpg If you are required to supply this vendor with a 1099 form, check the Vendor Eligible for 1099 box and enter the vendor's tax identification number.
six.jpg You can use the Define Fields button to create new fields that are customized to your business needs.
seven.jpg Click OK to complete the entries for this vendor.
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