Vendors

Overview

A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers. There are several ways of generating a Purchase Order in Order Time.  

Add a New  Vendor 

Before a PO can be generated, a Vendor needs to be established in your system to set general information and PO parameters.  When a Vendor is set up, the following information should be entered:

• Vendor general information (i.e. Address, Primary Contacts, Notes)
• Establish the type of vendor. (i.e. Consultant, Service Provider, Re-seller, Supplier)
• Set accounting defaults for the vendor. 
• Establish a credit limit for this Vendor, Tax ID, and Name to be used on the checks. 

To create a Vendor, open the side menu and click on the Create New drop-down menu. Select Vendor from the menu. On the Vendor screen, enter the following information:

• Add the Name and Company.
• If needed, set a Proxy* for the Vendor.
• Vendor's address and contact information.
• Under the Defaults tab, set accounting preferences.
• Add notes to identify vendor's special needs/requests.
• Set Customs setting for the Vendor. (See Custom Fields article for more details.)

On the Default Tab you can enter the Vendor's Payment information:

• Set the type of Vendor (i.e. Consultant, Service Provider, Supplier, Supplies, Re-seller)
• The Terms (i.e. Consignment, Due on Receipt, Partial Payment etc.)
• Currency
• Name on the Check
• Credit Limit
• Tax ID
• Set if the Vendor is eligible for 1099

Under the Notes tab, write specific information about the Vendor that you would like to view each time the Vendor is used.

Click Save when done.

*Proxy set up