This free QuickBooks tutorial will show you how you add a new vendor in QuickBooks Pro 2013. It is very similar to creating a new customer because you can choose to add vendors individually, or you can use the Add Multiple List entries window to add several vendors at once. To add a new vendor, perform the following steps:
1. Click Vendor on the menu bar, then click Vendor Center. Alternatively, you can click the Vendor icon on the icon bar.
2. Click New Vendor just above the vendor list.
3. We will focus on entering information in the highlighted areas. It is not recommended that you enter an amount in the beginning balance field at this time.
4. After you have entered in the information in the highlighted areas, click the pencil icon (see arrow) to bring up the Edit Address Information window. We will enter information in the highlighted areas.
5. Click OK after you have entered in the address
6. Now we will copy the company’s address to the Shipping Address field. This is the address from which the items will be shipped from.
7. The address has been successfully copied. We will move to the other tabs to complete this process. Click the Payment Settings tab on the right.
8. Enter the information in the corresponding highlighted fields. Once again, do not enter any information in the opening balance field. This option will be discussed later in the chapter.
9. It is imperative that you enter in the terms for payment that your vendor has assigned to you. For example, if your vendor wants to be paid within 30 days, select Net 30 in the Payment Terms field.
10. Click the Tax Setting tab on the right side. You will enter in the Vendor’s Federal Tax ID number in this field, then choose if the vendor will receive a 1099 at the end of the year. You should send your vendor a W-9 form which is a form request for taxpayer identification and certification.
11. Click the Account Setting tabs on the right side. This is where you can choose which accounts are to be applied for a specific vendor. For example, for the vendor that we are creating, we will always use the Material Costs account. When we enter a bill form this vendor, this account will automatically be used which will save time and ensure accuracy.
12. Click the Additional Info Tab to choose which type of Vendor we are creating. Click OK upon completion.
13. The new vendor has been created and it is listed in the vendor list.