{"id":1001157,"date":"2018-05-10T10:18:11","date_gmt":"2018-05-10T14:18:11","guid":{"rendered":"http:\/\/blog.bmcgiverncpa.com\/?p=1001157"},"modified":"2020-01-22T04:09:56","modified_gmt":"2020-01-22T04:09:56","slug":"working-with-quickbooks-vendor-records","status":"publish","type":"post","link":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/2018\/05\/10\/working-with-quickbooks-vendor-records\/","title":{"rendered":"Working with QuickBooks\u2019 Vendor Records"},"content":{"rendered":"

QuickBooks never forgets. That\u2019s one of the reasons you use it. You create a record or transaction, enter a note about a customer, or write a check, for example, and the information gets stored in your QuickBooks file. If you don\u2019t remember exactly where it is, you can search for it. No more flipping through a card file or folder, or digging in drawers.<\/p>\n

QuickBooks makes it possible\u2014easy, even\u2014to maintain thorough records of your vendors, the individuals and companies who provide you with office supplies, product parts, computer equipment \u2013 everything you need to keep your business operating. Once you\u2019ve started building a vendor record, you\u2019ll be able to use it in transactions and reports, and to simply refer to it when you need some information.<\/p>\n

If you\u2019re just starting to use QuickBooks, part of your setup will involve entering vendor details in the record template the software supplies. If you\u2019ve been a QuickBooks user for a while but you\u2019ve only suppled enough information about vendors to create transactions, consider fleshing out those elements of your accounting file as you have time.<\/p>\n

Filling in Fields<\/strong><\/p>\n

To create a vendor record, open the Vendors <\/strong>menu and select Vendor Center<\/strong>. Above the tabbed table, there\u2019s a small toolbar. Open the New Vendor <\/strong>menu and click on New Vendor<\/strong>. A window like this will open.:<\/p>\n

\"\"<\/p>\n

You can store an enormous amount of detailed information about your vendors in these record templates.<\/em><\/p>\n

At the top of the screen (not pictured here) is a box labeled Vendor Name<\/strong>. Enter it, then move on to the Opening Balance <\/strong>field and supply the amount and date. If you don\u2019t understand the concept of opening balances, we can go over this with you. <\/em><\/p>\n

Fill in as many of these fields as you can, then click on the Payment Settings <\/strong>tab in the toolbar on the left. The fields in this window\u2014Payment Terms<\/strong>, Credit Limit<\/strong>, etc.\u2014are optional, but complete what you\u2019re able to. The more you can fill out now, the less work you\u2019ll have to do later, since much of the information here automatically comes up when you create transactions.<\/p>\n

The other tabs here open windows where you can specify:<\/p>\n