Many of the fields here are similar to Address Info tab when you create a customer:
Vendor Name. Enter a unique name for your new vendor in this required field. You should create a system to consistently create your vendor name, as in creating your customer name. Other fields are optional.
Currency. If you have multiple currencies, choose a currency from its drop-down menu.
Opening Balance. Leave this field blank.
Vendor is inactive – checkmark if vendor is inactive.
Vendor is a Sales Tax Agency – make sure to check this box if your vendor is a Sales Tax Agency, otherwise you will not be able to set your tax items correctly.
Address Info Tab
Company Name – enter name of your vendor as you want to appear on bills.
Contact – enter primary contact name, salutation, first name, middle initial, last name, phone, address, fax, email, and other contact info.
Print on Cheque as – QuickBooks will automatically fills in with the same name as in Company Name field.
Billed From Address – used if you print cheques and envelopes to pay your bills.
Shipped From Address – this is used if you receive Purchase Order from different address than Billed From Address, otherwise just click Copy>>.
Additional Info Tab
As seen above, the vendor’s Additional Info Tab is quite different than for customers:
Account No. – enter vendor’s account number for easy reference. QuickBooks will fill this number in the memo field on your cheques.
Type – if you have vendor type, choose from its drop-down menu, such as Consultant, Supplies, Utilities, Tax Agency, etc.)
Terms – choose terms of payment of your customer, such as 1% 10 Net 30, due on receipt, net 15, etc.
Credit Limit – if your vendor set a credit limit for you, enter it here. The system will remind you if you reached your credit limit.
Sales Tax Information Pane.
Choose appropriate Tax code and Country, and enter your vendor Business Number.
Vendor eligible for T4A – checkmark the box if you are going to create this form. T4A is used if you subcontract your job.
Vendor eligible for T5018 – checkmark the box if you are going to create this form. T5018 is used by a construction business to report construction subcontractor payments.
Billing Rate Level – choose from drop-down menu if you have billing rate level based on vendor’s work, such as Consulting, Subcontracting, etc.
Custom Fields Pane.
This is a place where you can define your own fields by clicking Define Fields bar. You can use this to identify special information about your customer, such as Spouse’s Name, Vendor Since, Website, etc.
Account Prefill Tab
You can use this feature to ensure that each time you write cheques or pay bills, the corresponding expense accounts has been prefilled/defined. You can prefill up to three (3) accounts if necessary.
Click OK when you are done.
