Maintain Vendors

Maintain Vendors

Use the Maintain Vendors window to enter, change, and store information about the companies and people from whom you purchase goods and services.

To create the vendor list and to maintain their information go to the Maintain menu and select the Vendors option.

After clicking the window will be open.

In this window you are required to add information of your vendor to whom you are dealing you will fill the vendor I.D and name of the vendor.

And in this window there are 4 tabs

·        General

·        Purchase Defaults

·        Custom fields

·        History

1: General tab:

To enter basic information about the vendor such as contact information, address, phone and fax numbers, and beginning balances, select the General tab

           In this tab you will click on the beginning balance and start recording the balances                                     of your vendor to whom you will pay.

after clicking on this you will have a window which shows your vendor name and their balances as we have not entered any record so we have zero balance shown in the below figure:

Select the vendor name on the Vendor Balances tab; then enter amounts for outstanding invoices on the Purchases from tab. To enter balances or records click on the highlighting button on the above figure and you will have a window like this:

Here you can enter the beginning balances of your vendors. Vendor beginning balance consists of outstanding invoices that you have not entered in Peachtree as a purchase or a payment. You can enter a beginning balance for a vendor at any time.

If you have set up your company on an accrual basis, you must enter an A/P general ledger account. If your company is set up on a cash basis, the words Cash Basis will appear in the A/P Account field and it will be disabled.

Be sure that the total amount of your vendor beginning balances is equal to the amount you entered as a beginning balance in your chart of accounts for your A/P accounts.

In the INVOICE NUMBER enter the number of the outstanding invoice. This is required.

In the Date Enter the date the invoice was created.

Similarly you will fill the required information.

When you are through entering beginning balances, select the Save button.

2: Purchase Defaults:

This is the 2^nd tab on the maintain vendor window now we select this and fill the required information.

It is used to maintain purchase transaction for each vendor record.

As we are purchasing the raw material or inventory from our vendors so we write the inventory account in the Purchase account.

3: Custom Fields:

This is the 3^rd tab of vendor’s window it is used to enter custom field information for the selected vendor record.

4: History tab:

It is used to check he selected vendor's current history. When entering a new vendor, you can enter information on this tab; once you save the vendor record, this tab is for display purposes only.