Maintenance of Vendors

How to maintain Vendors

·         Open Peachtree from your desktop options.

·         Open the existing company whose “Vendors” you want to maintain. Now go to the "maintain" option, click on the 2^nd sub-option, i.e., Vendors.

·         A window will appear, displayed by the name “Maintain Vendors” and provide some information about the vendors like Vendor’s ID, Name, and some general information on different tabs. And “Alt+S” to save the Information.

·         Before entering the "Vendors" complete information and without entering the “Purchase Account” in the “Purchase Default” tab than a warning will appear, and we will press “ok” and will enter the Purchase Account. 

·         The “General” Tab requires some basic information about the Vendor, like Contact, account no, Address, City code and country, vendor type, E-mail, and website of our company, and then we enter the beginning balances of the vendor.

·         In the “Purchase Default” tab, we enter “Purchase Account” and Tax no., and we can choose the company through which the shipment should be done.

·         In the “Custom Fields” tab, we enter the other information about the Vendor, and we can change that information.

·         In “History,” we check the previous records of the vendor.

·         We can also change the “Custom Fields”. Click on the “Maintain” option and click on “Default Information”, and then select the Sub-option “Vendor”.

·         A window will appear with the name “Vendor Defaults” with the “Payment Terms” tab opened. In this tab, we select and enter the discount according to the credit term, depending on the option selected.

1.     "C.O.D.": It means Cash on Delivery. We receive the payment at the time we deliver the goods or services to the customer.

2.      Prepaid: In prepaid, we receive the amount of goods before delivering them to the customer.

3.      Due in number of days: In this option, we actually have to mention the days the payment is due within, and we also need to write the credit term and discount.

4.      Due on the day of next month: In this, we select any day of the next month to receive the payments. We can also give a discount on this option.

5.      Due at the end of the month: In this case, the payment is due on the end day of the month goods are sold and the invoice is issued.

In the payment terms, GL sales account, we mention the account in which we are giving a discount. And this should come from the accounts we are maintaining.

·         In the “Account aging” tab, we select the limit for the payment.

a.      Invoice Date: The due date for under given categories starting from the date on which the invoice is issued.

b.      Due Date: The due date for the under categories starts right after the due date.

·         In the “Custom Field” tab, we can change and add new custom fields and then press “Ok”.