Vendors are a part of the supply chain: the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user.
The following fields are most important for entering the details of a vendor.
General Info
Name
The Name column is used to give the vendor name or company name of vendor for the identification of that vendor .
Print on Check AS / DBA
The name which is used to give in banking transaction is give in Print on Check AS / DBA
Code
Code is used to give unique code of vendor to differentiate in case both the vendors has the same name.
Parent Location
Parent Location is your company location that to which location he is the vendor.
Contact Name
Contact Name has been provided for dealing with specified person in that company.
Multi location vendor
The Multi location vendor check box is ticked in case he provides service for all your company locations.
Contact Information
Fax is used for sending the documents or the Service orders etc.
Email Address is used for the communication purpose and also for the secured way of sending the service orders and the transaction details.
Website is used for checking the services that are newly add by that vendor.
Remit To Address and Shipping Address
Remit To Address
The Remit To Address is used to send the amount for the service provided by the vendor.
If you send your client a bill for your consulting services, be sure to include your address so he knows where to remit the payment. Remit means send back, and it has many uses. If you remit payment, you send it back to the person you owe it to.
shipping address
The shipping address is where you want your items delivered. This can be the same as your billing address, or it can be different.
Accounting Information
This is used for entering the accounting details of the vendor.
Payment Terms
The conditions under which a seller will complete a sale.
Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, a deferred payment period of 30 days or more, or other similar provisions.
GL Expense Account
A general ledger account is an account or record used to sort and store balance sheet and income statement transactions.
Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment.
Account
This Account is of the vendor by which the transaction of the amount will be carried forward.
Tax Number
An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity.
It is also used by estates and trusts which have income which is required to be reported on Form 1041, U.S. Income Tax Return for Estates and Trusts
The tax number is provided to claim the income tax returns.
Memo On Check
The memo line is a place for a reminder or message to the check writer or business. The memo can be a reminder of when and why the payment was made, or it can provide account information for a business. For example, it may be used to indicate that a check was written in May, but it was for an April payment.
Additional Info
This form is used for the tax return of the miscellaneous income earned from the supplier. It is generally used in united states.
Vendor Login
These credentials are provided to vendor for checking the transaction details that was done by user.
Internal Notes
These are used for quick look about the vendor performance and good things about that vendor.
