Creating and Editing Vendors
“Nothing happens until somebody sells something!” Whether you sell products or services, the first sale to a new customer often initiates a flurry of activity, including creating a new customer assigning a job for the work, and the ultimate goal of all this effort—invoicing your customer (sending a bill for what you sold that states how much the customer owes) to collect some income. The people who buy what you sell have plenty of nicknames: customers, clients, consumers, patrons, patients, purchasers, donors, members, shoppers, and so on. Even before you start receiving payments from customers, you’re going to do business with vendors and pay them for their services and products.
You can create a 360-degree view of the vendor to display all the associated details, such as products, activities, contacts, and purchase orders.
- Products: To add products purchased from vendor.
- Purchase Orders: To create purchase orders for getting products from the vendors.
- Open Activities: To add new tasks and events.
- Closed Activities: To track closed tasks and events.
- Attachments: To add files to the vendor record.
- Contacts: To add contacts related to vendors.
The “Vendors” account entity is used for record-keeping purposes in the Expenses module and is an optional feature. When you create receipts, you can record the vendor from whom the purchase was made. In the Purchases module, however, vendors are an important part of the purchasing process, as it is to them that purchase orders (POs) are sent, and it is they who fulfill these orders. Each product you create can be associated with a particular vendor. Therefore, for Purchases-related vendors, you will want to make sure you provide the information necessary, such as their address, their payment terms, and any notes you would like to include on any POs you send to them.
To modify an existing Vendor record:
- Click on the Account tab.
- Click on the “Vendors” link.
- Click on the relevant vendor name in the list.
- Make your changes in the “Edit – [Name of vendor]” dialog.
- Click on “Save.”