Vendor Setup
The purpose of this Training Program is to familiarize yourself with the setup (and sometimes importing) of Vendors.
Vendor settings are used to control how expenses are recorded when a manual check, debit card transaction or payable is entered for a Vendor.
Vendor Setup Resources
Vendor Setup for Administrators
Adding Vendors
Procedural Considerations
1. You should limit who at your company is allowed to create new Vendors. Allowing too many people to add Vendors is a recipe for “sloppy” Vendor creation.
2. Anyone who does enter Vendors in the system needs to be aware of the “Golden Rule”: All Product Vendors MUST get Inventory WIP as their first primary Default GL.
3. People who create Vendors must also be familiar with your Expense Accounts, and must properly know how to assign them to a new Vendor.
4. You should have a monthly “Vendor Review” procedure where an Admin at your company reviews any new Vendors created that month to see if they were entered properly. If not, they should be fixed as well as the accompanying transactions.