How to maintain Vendors and Its Information

                               Maintain Vendors 

If you want to maintain the vendors, first of all you need to open the Peachtree Accounting software.  After this go to “Maintain” and click “Vendors” as shown in the figure below.

This is the default window of the vendors.

Vendor ID:

Here you need to fill out the required information regarding to the supplier. Here first of all we allocate the vendor with a unique ID. Every vendor is represented by different ID and no ID will be allotted twice to the vendors. Then we type the name of the vendor in the “Name” box.

General:

In the Maintain vendor, make sure “General” tab is already selected, if it is not then select it by clicking on it. Here you are going to fill the basic information of the suppliers. This tab contains the basic information of the Vendor. Contact No, Account No, Address, City, Country, Vendor type, Telephone no, Email ID and Website etc.

Purchase Default:

This tab needs to be filled by

1.       Purchase Rep: If supplier is dealing through any purchaser then this option will help you to fill out by purchase representative name.

2.       Purchase Acct: This is general ledger purchase account. In order to fill this option you have to select “Inventory Account” by clicking on the search button which is next to the filling row and before this you need to verify that Inventory account is already exist in “Charts of Accounts”.

3.       Ship Via: here you can select the shipping medium that would be use as a primary shipment from the relative supplier.

Custom Fields:

If you have extra information of the supplier and the previous tabs don’t have the option to save that info, you can save them here.

1.       Office Manager

2.       Account Rep

3.       Special Note

Note: “You can change the filling options with a procedure that is not going to describe here right now”

History:

This tab shows the history of transactions that were made in prior periods relating to the specific Vendor. More on window will show the last invoice date and its amount, last payment etc.

                               Maintain Vendor Information

First click on Maintain then select Default Information a sub menu will open; select Vendors by clicking on it as shown in figure below.

Payment Terms:

This is the default view of the “Payment Terms” here you see the “Due in Numbers of Days” is already selected. This shows the options of:

·         Net Due in

Defines the total days for which the purchases are made on credit.

·         Discount In

If the payment of credit purchase is made in number of days the discount will be allowed on the payment.

·         Discount %

Here you will mention the discounted rate that would be allowed on the amount.

·         Credit Limit

It creates the boundary for the amount that can be nominated as the credit limit.

C.O.D:

If you select the C.O.D you can see the Due on the, Discount in, and Discount % option goes inactive. You can only edit credit Limit.

Here you need to select the “Inventory Account” in the “Purchase Account” by clicking on the search button. After selecting the account it will be the default account of sales that will be shown in the Maintain Vendors Payment Terms default tab.

Account Aging:

Here in Vendors Account, aging refers to the people of that category who don’t pay their amount that were due. Here we can define the time period by giving the intervals of days as shown below in the figure.

Custom Fields:

Custom fields can be used to store the extra information about the customers. You can edit the labels by giving them the names that were relate to the information to be stored. The enabled box must be checked for text to be entered.

1099 Settings: