Maintainance 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 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 than we enter beginning balances of vendor.

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

·         In “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 “Maintain” option and click on “Default Information” and than select the Sub-option “Vendor”.

·         A window will appear by the name “Vendor Defaults” with “Payment Terms” tab opened. In this tab, we select and enter the discount according to credit term according to 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 day of next month: In this we select any day of the next month to receive the payments we can also give discount in this option.

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

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

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

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

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

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