Add a new vendor record to Accounts Payable.
A vendor is an individual, entity, or organization that will fill the purchase order. You can set up a new vendor record, make changes to an existing vendor record, or delete a vendor record. You cannot delete a vendor record that is linked to transactions.
1. Open Connect Accounts Payable > Vendors > Setup New Vendors.
2. Enter the Vendor Number.
The vendor number is a unique number that is assigned to the vendor.
3. Enter the vendor's contact address and telephone numbers.
4. Enter the Contact.
A contact is person with whom you communicate. Clicking the button at the end of the field will parse the contact name into First Name, Middle Name, Last Name, and Suffix.
5. Select a Vendor Type.
A vendor type is a category that you can use to organize the vendors. You get to define the categories that will be assigned, as well as choose the rationale behind the categories that you select.
For example, Jane creates a vendor type for Rentals, Equipment, Office Supplies, and Exterior Maintenance.
6. Set up the option to Use This Vendor in Materials Management.
There are two locations for storing vendors in Connect. The primary location is here, in Accounts Payable. The other location is in Materials Management. You can copy vendor records from Accounts Payable to use in Materials Management; however, vendor records that are created in Materials Management cannot be copied to the vendor table in Accounts Payable.
Do you wish to add this vendor to the vendor table in Materials Management?
Yes, I want to use this vendor in Materials Management. Click to select Use This Vendor In Materials Management.
No, I do not want to use this vendor in Materials Management. Click to deselect Use This Vendor In Materials Management.
7. Enter the Activation Date.
The Activation Date is the date when this account status is active. An active account can be tied to billings, invoices, and transactions. When an account is not active, users cannot select the account or use it to create new transactions, but the account will remain in the Vendor file.
8. Skip the Termination Date.
The Termination Date is the date the account status in not active.
9. Select the Rating.
A rating is a classification according to grade. You do not need to assign a rating. However, if you choose to do so, you can use the rating system to create a system that is meaningful to you.
10. Enter the 1099 Information.
A 1099 vendor is a vendor of goods and/or services that is not incorporated (such as a landlord or independent contractor) that the organization has made payments in excess of $600 dollars for the tax year.
11. Click the Entry Defaults tab.
12. Use the fields on the Entry Defaults tab to enter the default values for the current vendor.
The values stored here will display in the form when you select this vendor.
13. Click the Remittances tab.
A remittance is a sum of money that is remitted to a person or organization in payment of a demand or account.
14. Enter the remittance address for the current vendor.
You can enter more than one remittance address. You can also choose which remittance address to use as the default remittance address.
15. Click the Recurring Invoices tab.
A recurring invoice is an invoice that needs to be created for a customer, or group of customers, at regular intervals.
Does the vendor have recurring invoices?
Yes, recurring invoices exist. Click the Recurring Invoices tab to enter recurring invoices for the vendor.
No, recurring invoices do not exist. Continue to the next step.
16. Click the Direct Payment tab.
A direct payment is a payment made to the account of the payee. For example, Jane rents a backhoe periodically from Acme Equipment Rental to complete general maintenance. She sets up a direct payment to withdraw funds from the organization's bank account and deposits those funds directly into the bank account for Acme Equipment Rental.
Do you want to use direct payments?
Yes, I want to use direct payments. Click the Direct Payment tab to set up the direct payment properties.
No, I do not want to use direct payments. Skip this section.
17. Click Save (CTRL+S).
The vendor record is saved.