Maintain Vendor Account

Overview:

The main purpose of this account is to maintain accounts of persons from we purchase our primary goods and change information related to them such as name and address, purchase information, discounts and term of payments e.t.c

First we click to the maintain Manu and click to vendors then window will appear which shown next

Identified Vender ID Name:

First we identify the Vender ID suppose we assume V1000, named as Ahsan Ali and press

(Ctrl+s) or press Save icon on the window.

There are four tabs in maintain vendors window

1-General Tab:

It contains typical information related to vendors.

In this option we will type the name of our person or company which help us to contact which vendor.

In this tab account no. of vendor is written.

For any business matter address of vendor is written in address tab.

There may be different time of vendor according to their nature for example product or services, if we deal with product so we read product type of vendor in this tab.

There are three types of 1099

·         Interest 1099 type is use when interest is paid to vender below the limit of $ 10.

·         Independent Contractor type is use when we pay more than $ 600 in single year to outside contractor

·         None is use when if vendor does not meet any above criteria.

For entering data relating to transaction such as invoice no, date, amount and select account payable account. After click on this following window will appear in which we enter relevant data.

2-Purchase default:

It contain information about purchase account, purchase Rep. and terms

In this option you will write the employee name which rep. with vender.

For example enter the Rashid purchase Rep. for vendor.

In this we enter general ledger account for purchase account for example select 130 purchase inventory.

                Enter the tax ID no of vendor only if you send 1099 form.

 In this we write about the vendor primary shipment carrier.

Terms are use for payments for example if payment is made before month ten percent discount will receive and payment is made at the end of month there will be no discount.

For delivery option you can select paper form or email option and to create a copy for purchase rep. click on that point

 

3-Custom Field:

In this field you can add additional information about your customers such as account manager and account Rep. e.t.c

4-History Tab:

You can check you customer previous information from this tag.

·         Vendor since:

 In this you enter the first date had a transaction with the vendor.

·         Last invoice date:

In this you will enter the last date of invoice which you receive for vendor.

·         Last invoice amount:

      In this you will enter the last recent last amount of invoice.

·         Last payment date:

In this last payment to vendor date is mentioned.

·         Last payment amount:

The last amount which  pay to vendor is mentioned.