Maintenance of vendors

Maintenance of vendor’s account

Same as we enter and maintain the information of our customers to which we sell our products and services we also maintain the records of our vendors. Vendors are the persons or the companies from which we purchase the raw material to make the final products. Vendors are basically the accounts payable for the company. At this window we can enter, update and save the information of the people or the companies whom which we purchase the products or the services o make your own final product. You can add the vendor, change the vendor’s information and also can delete any vendor if no transactions have been entered to that vendor. Do remember that you can only delete that vendor on which no transaction is recorded.

To open the window of maintaining the vendor’s information, click the 2^nd option of “vendors” from the drop down menu of maintain. As shown in the figure:

When you will click the option vendors the new window will open. From that window you can maintain the information of the vendors such as name, address, type of vendor, terms history etc.

The above shown window of the vendors has the following tabs which requires and maintains the different information of the vendor. The tabs detail is as follow:

General:

In this tab the basic information of the vendor is required in this tab such as the name of the vendor, phone number, fax number, address, email, web site address, beginning balances etc. You assign the unique ID to every vendor. Fill in all the necessary information related to the vendor. You can use the option of “vendor type” to make the groups of vendors together. For example if you have some vendors for products and some for the services you can specify that which vendor is from the services and which is from the products group.

Purchase defaults:

From this tab you can set up the unique purchase transactions defaults for each vendor record. This tab requires the following information:

Purchase Rep: You can enter or select an employee to act as the purchase rep for this vendor.

Purchase account: Here you enter the purchase account from the general ledger for the vendor. This is normally an expense account.

Tax ID: You enter the tax ID only for those vendor to whom you send 1099 form.

Ship via: here you select the primary carrier of shipping which will be used by the vendor to deliver the items.

Terms:  Here you specify the terms of payment and discounting. You can choose the vendor terms which are saved in the peach tree software. But you can also make your own unique terms with the concern of your vendor. For example: 2% 10, Net 30 days.

Custom Field:

Custom fields’ option offers the way to keep the track of some specific information about your vendor which is required for your business. In custom fields the unique data is stored about your vendors. These are used to store specific information for each vendor, for example the office manager, account rep, special note or any other unique information about a vendor. Field labels can be changed or enabled from the vendors default window.

History:

The history tab tells you about the whole history of the vendors which you have saved already. This includes that since when is he your vendor, last invoice date, last invoice amount, last payment date etc. you can only view the information when you have saved it. You can not change this information once you have saved. It tells you about the vendor that from how many time he or she is your vendor. What is the last invoice date? What is the last payment date? Etc. after providing all the information about the vendor click on the button ’save’ in order to save all the data about your vendor.

Changing of vendor ID:

Now if you have written down the ID of your vendor incorrect, the correction can be made. To change the ID just open the list, select that vendor. Then press the button Change ID which is at the top of the window. But one thing that is to be remembered is that the button of change ID will be activated only if the vendor’s old ID is written in the vendor ID box. If the vendor ID box is empty the button will be inactive until the vendor’s old ID is written. As shown below:

When the vendor’s old ID is written in the box, then the button will be activated as shown in the figure below:

When you will click the button of “Change ID” a window will appear. In that window the option of current vendor ID will be inactive. You can only enter the new ID and click the button “OK”. The ID will be saved automatically you don’t need to press the save button.

Deletion of a vendor account:

An account can be only deleted only its beginning balance is not entered. If the transaction is recorded in any vendor’s account then the account can not be deleted.

To delete any vendor’s account, select that vendor and press the button “delete”. After clicking on the button delete a new window will open confirming that you really want to delete this vendor? Click on the button OK your vendor account will be deleted.