Creating a Vendor
The below process highlights how to create a new Vendor. Parish accounting users should create Vendors at the entity level.
When adding a Vendor, all fields with a red asterisk are required to save the Vendor record. Any field that does not have a red asterisk is optional, however, some fields may be recommended.
Steps
- Click the Application drop-down menu
- Click Accounts Payable
- Click the All tab
- Click the “+” sign next to Vendors to add a new Vendor
- Enter the name of the Vendor
- If needed, select for the Vendor to be a one-time use Vendor
- Note: If the one-time use box is selected, this Vendor will not appear in Vendor list screens unless filtered for
- Enter the Primary Contact information for the Vendor
- Note: Unless additional contacts are created, this is the information that will appear on the check for the Vendor
- Note: The Print As field ultimately controls the name that appears on documents such as bills, advances, adjustments, checks, and 1099s. It will default to the Vendor name that was entered in step 5, however, it can be changed
- Click the Additional information tab and enter relevant information into the highlighted fields as well as any other fields deemed useful for this vendor’s record.
- Place a check if the Vendor is 1099 eligible
- Note: If you mark the Vendor as 1099 eligible, please proceed past step 31
- Enter the Tax ID for the Vendor
- Enter the official name of the Vendor used on a 1099 form if the Vendor is 1099 eligible
- If needed, add an Attachment to the Vendor record
- If needed, select a default expense account to be used in transactions with this Vendor.
- Note: This account selection can be overridden during transaction entry
- Move on to the Contact list tab
- Note: On this tab, additional Vendor contacts can be added to the Vendor record
- Enter Contact Category – i.e.: 1099 Contact
- Select a Contact to associate with the Contact Category
- Note: If the Contact does not already exist, it can be created using the Add button as shown below
- Select the newly added Contact Category and Contact in one of the Pay to/Return to fields – i.e.: 1099 Contact
- Move on to the Payment information tab
- Select the Preferred payment method for the Vendor – i.e.: Check
- Note: When paying a bill for a Vendor, the Preferred payment method selected on the Vendor record will default. However, the payment method can be changed at the time of payment
- Select the default Payment priority for all bills for this Vendor
- Note: When entering a bill, the Payment priority will default based on the Payment priority selected on the Vendor record. However, this can be changed at the time of bill entry
- Leave the Default bill payment date as is
- Select a default payment term for the Vendor
- Note: When entering a bill, the Payment terns will default based on the Payment term selected on the Vendor record in this field. However, this can be changed at the time of bill entry
- Ensure that the Merge payment request checkbox is checked
- Ensure that the Send automatic payment notifications checkbox is unchecked
- Check the Display term discount on the check stub checkbox
- Leave Vendor billing type as Open Item
- If you have an Account number with the Vendor, enter it in the Number field
- Note: To include the Account number on the check stub, click the checkbox as highlighted below
- Note: If multiple Account numbers are held with the Vendor, the Location and Account numbers fields can be used to track the Account numbers
- Move onto the Bank file tab
- Ensure None is the default selection
- Payment Providers tab is informational only and does not require updates
- Click Save
- Note: If you marked the Vendor as 1099 eligible, please proceed to step 32. If you did not mark the Vendor as 1099 eligible, the Vendor record will be saved and you are finished.
- Select the 1099 Form name – i.e.: Nonemployee Compensation (Form 1099-NEC)
- Select the Default 1099 box – 1 – Nonemployee compensation
- The system will default in the current calendar year for the “Initial Values for Year” field. If the year is incorrect, select the correct year with the drop-down menu
- The system will provide blank fields to indicate a beginning balance of $0 for 1099 values for the year. If applicable, add any applicable beginning values from another system.
- Click Save
RELATED TOPICS
- For help with editing 1099 Information for an Existing Vendor - visit the Intacct “Help & Support (help on this page)” for Setup 1099 Vendor Information > Add or edit 1099 information for an existing vendors section.