QuickBooks POS: Understanding Vendor Fields
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Today where going to talk about some of the fields in the vendor list and when you’re creating a vendor some of the fields that you can enter might be important than you think or might do things that you didn’t know they do. Let’s get to it:
- Understanding Vendor List
- From your QuickBooks Desktop Point of sale click “Vendor List”
- Then click any of the “Vendor Code” ex. “Bob’s Flower Emporium”, then on the right side of the window hit the “Edit” button. Then the Vendor Info will appear.
- Here in the Vendor Info it’s very obvious you’ll just fill out the information about your vendor. Tip: In Vendor notes this section is where you put important notes about the vendor.
- Here in Vendor Settings under Vendor Info you have to fill out all of this because this is very important. You have to put the Account Number of the vendor company, in Alternate Phone and Alternate Contact if the vendor is not around you must have a backup information besides the owner like a secretary or anyone who is related to the company, and lastly if you stop a vendor in general or if you’re not ordering from them anymore you can mark this is INACTIVE.
- Now this section right here has to do with billing of the vendor. This is very important because it helps them track their bills. Also, here in the Billing Section, this is where you can work out your billings with the vendor. If paid before due, the vendor can avail a certain discount percentage depending on your agreement with the vendor.
- History is where you can look up past, receiving vouchers, and purchase orders. You could also jump to the purchase orders and duplicate it.
- After you fill out everything click “SAVE”
- Understanding Receiving Voucher
- On your QuickBooks desktop point of sale click “Receiving Voucher”
- In “Enter vendor name or phone” choose the vendor name you used in guide #2 (“Bob’s Flower Emporium”).
- This is the Voucher Field it’s where you will select the items you want to order to the vendor. In the Arrow sign it’s where you will search the items you want to order.
- On the right side of the Voucher Field you’ll see the Quantity, Voucher Cost, and Extended Cost of the item you ordered.
- Quantity is the number of items you ordered.
- Voucher Cost is the price of the item you ordered.
- Extended Cost is the unit cost when you multiplied the Quantity to Voucher Cost.
- On the left side of the Voucher Field click “Billing Info”.
- Billing Info is very important for this workflow to automatically create bill in QuickBooks Accounting.
- After you click “Billing Info” this will pop out.
- Invoice Number, it’s where you put either the packing slip number or the invoice number.
- I would not recommend marking the “Mark this voucher already paid” because that skips the whole bill workflow.
- Bill date is the month or date of a statement.
- Invoice due is the date specified in an invoice.
- After you fill out everything in “Billing Info” click “Close”.
Original Article: https://blackrockbusiness.com/quickbooks-pos-understanding-vendor-fields/?feed_id=3254&_unique_id=620a70ceefd18