Use this procedure to add a vendor. You may want to review the following topics before adding a vendor:
To add a vendor:
- From the WinTeam Accounts Payable menu, click Vendor Master File.
- Type a vendor number in the Number field.
- Type the new vendor's name in the Name field. This is the vendor's name as you want it to appear throughout the system.
- If you plan to use Recurring Invoices and Invoice Entry to pay the vendor, type the complete address, phone numbers and contact information in the appropriate fields.
- In the Type field, select a Vendor Type. Double-click to add a Vendor Type to the list.
- Click the Payments tab. Under Terms, select the terms for the vendor. The system calculates the due date on each invoice based upon the Terms of the Vendor.
- If the vendor allows a discount, select the Discount Terms check box.
- Select the Taxable check box if your vendor taxes your purchases.
- If your company is required to pay Use Tax for items purchased from this vendor, select the Pay Use Tax check box. If the vendor does not charge sales tax, you will normally have to pay Use Tax. If you do not ALWAYS have to pay Use Tax for this vendor, you should not select this option. You can select the Pay Use Tax check box from the Invoice Entry screen for those invoices to which the Use Tax applies.
- If the vendor accepts NACHA payments, select Begin NACHA Payment. You will be required to enter information about the bank and the bank account.
- Select the Compute 1099 check box if this vendor requires a 1099 at the end of the year. If the vendor is a corporation and does not require a 1099, leave the check box cleared. Normally, any non-corporate vendor who is paid more than $600.00 a year is issued a 1099 form at the end of the year.
- If this is a Credit Card Vendor, select the check box. See Adding a Credit Card Vendor for more information.
- Click the Purchase Orders tab. Enter any information that you wish to default to Purchase Orders for this vendor.
- Click the Invoices tab. Enter any information that you wish to default to Invoices for this vendor.
- Click Close to save this record.
Note: Use the Parent Vendor field to establish hierarchical parent-child relationships between vendors, if applicable. Enter the number or use the Lookup to locate a vendor record in the system. If entering a child record, to associate it to the parent you must include the parent number here. Establishing this relationship is necessary in order to use the Accounts Payable Credit Vendor Reconciliation functionality. Also, The Vendor 1099 Report allows you to Group by Parent Vendor.
Note: If you select Use Standard Terms, the system will use the Terms defined in AP: Defaults.
Note: You may generate a Vendor 1099 report (from the Accounts Payable Reports menu) at the end of the year for every vendor that has Compute 1099 selected. The report lists each vendor with the total amount paid during the year. This only includes those invoices and payments that were marked as 1099 reportable.