QuickBooks Tutorial 2-6: Adding a New Vendor

Open the Lists menu and choose Vendor Center, or click the Vendor Center button on your Icon Bar. The Vendors List appears. This list includes a column for the Name of your vendors and a Balance column, which displays the total amount you owe each vendor.

 

Step 2: Open the New Vendor Window

Click the New Vendor button that appears above the Vendors List, or press Ctrl + n. The New Vendor window will appear.

 

Step 3: Enter the Vendor Information.

Enter the name of the vendor in the Vendor Name field. This is the name that will appear on the Vendor List. On the Address Info tab, enter general information about this vendor, including company name, contact name, address, phone number, FAX number, e-mail address, and the name as you would like to have it printed on checks (assuming, of course, that you use QuickBooks for writing checks – if you write checks by hand, you can ignore this field).

 

Step 4: Enter Additional Information

Click the Additional Info tab in the New Vendor window to enter information such as an Account number, a Credit Limit, the Type of vendor, and the terms you usually receive from this vendor.

 

Step 5: Enter 1099 Information

If you are required to file a 1099 form for this vendor, check the Vendor eligible for 1099 box and enter the vendor’s Tax ID number. The tax number is required if you check the 1099 box.

 

Step 6: Enter Opening Balance

If you owe money to this vendor at the time you first set up the vendor, you can enter the amount you owe in the Opening Balance field, followed by the date on which you want this payable to be effective in your QuickBooks file. This field appears right beneath the Vendor Name field.

 

Step 7: Finishing the Vendor Setup

Click OK when you have finished entering all information for this vendor, click Cancel if you changed your mind and don’t want to setup this vendor after all, or click Next to go on to a new screen to enter another vendor.