Vendors
Vendors are the people and businesses from which you purchase goods
and services. If you are a retail company, your vendors may be the suppliers of the goods you resell to customers; if you are a construction company, your vendors may be the contractors you hire to perform skilled trades on a construction site (such as an electrician, plumber, landscaper).
Why do I need to create vendor records?
You can purchase goods and services without adding vendors to Sage 50 Accounting; however, we highly recommend that you add them :
Note: Government tax authorities and other organizations to whom you remit taxes or payments are entered in the program as vendors. When you link one or more payroll liability accounts to a tax authority, Sage 50 Accounting automatically keeps track of the total amount owed to the tax authority.
One-time vendors
One-time vendors are either single-purchase vendors,
or vendors with whom you rarely do business. A purchase using this type of vendor is made without entering a vendor name or record. You cannot record
purchase orders or quotes for one-time vendors.
My Vendors are called Suppliers
Not all companies refer to their vendors as Vendors. Sage 50 Accounting allows you to create a custom name for the people or organizations with whom you do business: suppliers, providers, sellers. (Sage 50 Premium Accounting)
Quickly add a new vendor
Completing a full vendor record can take time, and it is best to set aside this activity when you have time in your schedule. However, Sage 50 Accounting allows you to add a new vendor quickly ("on the fly")
to the program during a purchase, without going through the formal process of creating a
new vendor record. You can always go
back later into the vendor record to enter more information.
Finished doing business with a vendor
If you no longer require the services of a particular supplier, or if the supplier is no longer distributing items you require, you can set the record to Inactive.
If you no longer require any details for this vendor, you can remove a vendor's record when:
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