Create a Vendor

*NEW field for AV 2015* ➤ scroll down to Step #4.5

A Vendor is a person or company who sells Products (or services) to you or your company.

1. Open the Vendor window

Navigate to Purchasing ➤ Vendors

Open the Vendor window

2. Create a New Record

3. Enter the Company Information

3.1. Name and Address

  • Company Name: The Vendor's company name (or if the Vendor is an individual enter the last name here).
  • First Name, The: If the Vendor is an individual enter the first name here.
  • Street Address: The Vendor’s street address.
  • Vendor Code: A code that can be entered for each Vendor. (optional)
  • Suite/P.O. Box: The second line in the Vendor’s street address (for example, P.O. box, suite number, department, etc.)
  • City: The city in which the Vendor is located.
  • State: The state in which the Vendor is located. This field uses the postal abbreviation.
  • Zip: The postal code for the Vendor. It can be up to 10 characters.
  • Country: The country in which the Vendor is located. If a country is not entered this will default to USA.
Name and Address

3.2. Contact Information

  • Telephone Main: The Vendor's main phone number. You can also set up phone numbers for each Vendor Contact.
  • Telephone PM: A secondary phone number for the Client.
  • Fax: The fax number for the Vendor. You can also set up fax numbers for each Vendor Contact.
  • E-mail: The Vendor's main email address. You can also set up email addresses for each Vendor Contact.
  • Web Address: The Vendor's website URL (for example, http://www.companyname.com).
Contact Information

3.3. Attributes & Memo

Attributes

  • Relation: A definition of the relationship between your company and the Vendor. A pop-up window will appear in which you can select or create any relation desired. For instructions on creating a new entry in the window, see Modifying Pop-up Lists for more details.
  • Status: If selected, the Vendor record will be marked inactive. If you have stopped using a Vendor select this box.
  • Account Manager: The name of your employee who is responsible for this account. (This person must be entered as an employee before his or her name will be accepted by AcctVantage.)
  • Category: A group of your choosing. A pop-up window will appear in which you can select or create any category desired. For instructions on creating a new entry in the window, see Modifying Pop-up Lists.
  • Primary Contact, Phone & Fax: The main Vendor Contact and his/her contact information.
  • Custom Fields 01, 02 & 03: You can define these fields in any way desired. They do not affect any other data in AcctVantage unless there is some custom scripting involved. Please contact AV Support if you are seeking a customized solution involving these fields.

Memo

  • Notes regarding the Vendor (viewable only to AcctVantage Users). As an example, you could write a short description of the Vendor's type of business or any other information helpful to your Purchasing staff.
Attributes & Memo

4. Enter the Account Information

4.1. Accounts Payable

  • History: Click the icon that looks like a clock to see Vendor account history in table or graph form. The Vendor information that can be viewed is Starting Balance, Debits, Credits, Ending Balance, and Net Activity.
  • GL Account Name & Code: The Accounts Payable GL Account that will be charged when Purchases are made from the Vendor.
  • 1099: If selected, indicates that your company will issue an IRS Form 1099 to this Vendor.
  • AP Balance: The outstanding Accounts Payable balance on the Vendor’s account.
  • # Disb. per AP Check: Enter the number of Disbursements to be paid on each check written to the Vendor. Usually this will be left blank unless your Vendor requires each Invoice to be paid with a separate check.
Accounts Payable

4.2. Terms and Discount

  • Credit Limit: The credit limit extended to you by the Vendor.
  • Net Days Due: The number of days your company has to pay the Vendor the balance due on an Invoice.
  • Discount %: If the Vendor offers discounts for early payments, the percentage of discount available if payment meets one of the two terms below:
    • If Paid Within: The number of days the payment must be made within after invoicing in order to be eligible for the discount.
    • Or By: The day of the month by which the payment must be made in order to be eligible for the discount.
  • Terms Description: A new text field designed to contain info relating to the Vendor's A/P terms.
Terms and Discount

4.3. Voucher Information

  • High Amount (read-only): The monetary value of the most expensive voucher ever generated for this Vendor.
  • Last Amount (read-only): The monetary value of the most recent voucher generated for this Vendor.
  • Last Date (read-only): The date of the most recent voucher generated for this Vendor, in MM/DD/YY format.
Voucher Information

4.4. Accrued Inventory Payable

Accrued inventory payable (AIP) is an interim account used to hold the value of received goods before a Vendor Invoice is Vouchered.  

  • History: Click the icon that looks like a clock to see Vendor AIP account history in table or graph form. The information that can be viewed is Starting Balance, Debits, Credits, Ending Balance, and Net Activity.
  • GL Account Name & Code: The Accrued Inventory Payable GL Account that will be credited after PO Line Items are received and the Purchase Event is posted.
  • Balance: The value of the received goods in the AIP account.
Accrued Inventory Payable

4.5. Identification, Default Checks and Voucher Accounts & Default Foreign Currency

Identification

  • Tax ID: The Vendor’s IRS Tax ID number.
  • Know Us As (name or account ID): The name or number that your company is known as by the Vendor. This information can be printed on any Purchase Orders issued to this Vendor.

Default Checks and Voucher Accounts

  • This list defines default Disbursement accounts for Checks and Vouchers issued to the Vendor.

Default Foreign Currency - *NEW for AV 2015*

Identification, Default Checks and Voucher Accounts & Default Foreign Currency