Vendors: Adding or editing a vendor
If you pay them, they're a vendor. Vendors are people or companies you pay because you've bought things from them or they've provided a service for you. A vendors can be the electric company, a the supplier where you buy inventory, or the contractor you hired to help you with a project.
Note: You can import your vendors' contact information from an outside source like Gmail. In the Vendor Center , click the + menu and then click Import Multiple .
To add or edit a vendor:
- Choose Lists > Vendors or choose Vendors > Vendor Center.
- Add a new vendor or open an existing vendor .
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Enter the information about the vendor and click OK.
Vendor name
- Vendor — Enter the name of the vendor as you'd like it to appear on your Vendor list. For example, if the vendor's name is Russell Poole and you want the list to show last names first, you would enter Poole, Russell.
- Vendor is inactive — If you don't work with this vendor anymore, you can make the vendor inactive. This keeps the vendor name out of lists, but maintains all the vendor's information.
Address InfoOn the Address Info pane, enter the contact information for the vendor. Take special note of the fields needed for 1099s.
- Company Name —If you send a 1099-MISC form to this vendor, enter the company's legal name.
- First Name, M.I., Last Name —If the vendor is a large corporation (for example, your utility company), you can leave these fields blank. If you send a 1099-MISC form to this vendor, enter the vendor's LEGAL name in these fields.
- Address —The vendor's address (QuickBooks has partially filled in the Address field on the basis of what you've entered so far). Enter the address as you want it to appear on printed checks to the vendor. Click Address Details to make sure each individual address field is filled in correctly, especially if you are using contact sync. Mail merge: If you use mail merge, be sure to include in the last line of the address the two letter state abbreviation and the zip code. This ensures that the address will print correctly in mail merge documents.
- Print on check as —The vendor's name as it will appear on printed checks you send to the vendor. QuickBooks prefills this field with the vendor's company name, but you can edit the name if you want it to print differently on your checks.
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Address Details
—This window shows how the multi-line Address field displayed on the Add/Edit Customer, Vendor, Employee, or Other Name window is separated into the individual address fields.
Note: We strongly recommend keeping the “Show this window again...” checkbox selected so that QuickBooks can automatically alert you when it detects possible address field entry errors.
Note: The information in shaded fields are synchronized with Apple's Contacts app and other applications that use Sync Services.Additional InfoOn the Additional Info pane, enter the information about your credit terms with the vendor and how you want to categorize the vendor on your reports.
- Account —Enter any information that you want QuickBooks to print in the Memo field on checks that you send to the vendor. For example, if you enter your company's account number with the vendor, QuickBooks automatically adds the account number to the Memo field on each bill payment check that goes to that vendor. (You can also enter a short note or message instead of an account number.)
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Type
—This is a word or phrase that categorizes this vendor for your reports. Use
vendor types
to categorize vendors by the types of products or services they provide. A building contractor might use vendor types to keep track of where subcontractors are located, for example, by county.
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Terms
—This field lets you associate a specific set of payment terms with the vendor. When you enter a bill from the vendor, QuickBooks automatically fills in the payment terms you specified.
QuickBooks accepts two types of terms:
- Standard. This type specifies (1) the number of days until you earn a discount from the vendor, and (2) the number of days until payment is due.
- Date-driven. This type specifies (1) the day of the month by which you earn a discount from the vendor, and (2) the day of the month by which payment is due.
QuickBooks uses a shorthand notation to express terms. For example, 2% 10 Net 30 means “2% discount if paid within 10 days, net due in 30 days” if the terms are standard, or “2% discount if paid by the 10th of the month, net due by the 30th of the month” if the terms are date-driven.
- Credit limit —Enter the credit limit that your company has with this vendor. QuickBooks remembers the limit and warns you when you are about to exceed the limit.
- Opening balance...as of —These two fields apply only if you are setting up records for a new QuickBooks company. To keep your records up to date, enter all historical transactions from the day after your start date through today. For example, if you paid bills to this vendor between your start date and today, you must enter those bills and record your payments in QuickBooks. This allows QuickBooks to provide full financial reports for your company for any period of time after your start date.
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Tax ID—If the vendor is a sole proprietor, enter the vendor's social security number. If the vendor is not a sole proprietor, enter the vendor's nine-digit tax identification number.
Vendor eligible for 1099—Check if you plan to send a 1099 for this vendor. If the checkbox doesn't appear on the Additional Info tab, you need to set up QuickBooks for 1099 tracking. For details, see setting up 1099 tracking.
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Terms
—This field lets you associate a specific set of payment terms with the vendor. When you enter a bill from the vendor, QuickBooks automatically fills in the payment terms you specified.
Other things to know:
- Add notes. If you want to add any notes about the vendor, go to the Notes pane.On the Notes pane, add notes about the vendor.
- Mark a vendor as inactive. With the vendor open, select the “Vendor is inactive” checkbox. More info
- Create custom fields. Capture information that is important to your business but QuickBooks does not provide a field for such as spouse's name or the vendor's birthday. Find out more about custom fields...