* Suppliers & Vendors (Add New)

Key Concepts & Vocabulary

• Supplier vs Vendor, what's the difference?: In OneSource, a Supplier is a company that sells you goods and services that you resell. A Vendor is a company that provides products and services that you consume--such as the rent, office supplies, carpet cleaning services, etc
• Special NOTE about GL Account Differences...: Pay special attention to the Default Inventory or the Default Expense Account you select when setting up.
• Suppliers: You need to select an Inventory (Asset Type) GL Account - so Inventory Purchased and Paid for (with AP Bills) will auto fill the Inventory account (so your Balance Sheet - Inventory asset account will be increased when you buy inventory)..
• Vendors: You need to select any Expense (Expense Type) GL Account - so products and services paid for will be expensed on your Income Statement.

How to open the Add New Supplier/Vendor screen

• Shortcut Key: Ctrl + F4, or
• Menu: Contacts > Add New Supplier/Vendor, or
• From the Supplier/Vendor screen: Press the NEW button, or
• From a Purchase Order screen: If you type in the name of a Supplier into the Supplier Drop down list that does not already exist in your Supplier & Vendors table you will get a prompt asking you if you want to create a new Record. 
• Add New Supplier Box: will open and the supplier ID will be automatically filled in if you have Sequential numbering turned on in the Company Setup & Preferences.
• Supplier/Vendor Info: Fill out the remaining information about this Supplier of Vendor.  **See below for an explanation of the fields on the Add New Supplier form.

Add New Supplier/Vendor - Explanation of Fields

• Supplier Number: This is a unique number that is used to identify this supplier/vendor.
• Category: This allows you to group your suppliers/vendors into various Categories for reporting purposes.
• Supplier Name: This name will be printed on all forms and reports as the supplier/vendors name.
• Primary Contact: If there is a main contact person that you deal with in this company you can enter it as the Primary Contact.
• Title: This would be the Primary Contacts title. i.e. Manager, Accounting etc...
• Address 1, Address 2, City, State, Zip/Postal Code, Country:  The address 1 and address 2 fields allow you to enter Suites or other needed address information.
• Choose: Supplier Or Vendor from the Box. See definition above for difference between supplier and vendor.
• Main Phone, Fax Number:
• Account Number: This field can be set to print this account number in the Memo field on checks when paying bills.
• Payment Terms: This determines when the Supplier/Vendors payments are due
• Credit Limit: This determines how much you can purchase from your Suppliers/Vendors
• Min Discount Amount: This is the minimum amount you need to purchase in order to get a discount from this supplier/vendor.
• Ship Via: Which form on transportation will this supplier/vendor be shipping the product to you.
• Fed Tax ID: May be important to you if you will need to send them a 1099 at the end of the year.
• State Tax ID: May be important to you if you will need to send them a 1099 at the end of the year.
• Default Expense Acct / Default Inventory Account: Depending on if they are marked as a Supplier or a Vendor will determine which one of these types of accounts that applies.
• Remit To Address fields: The Remittance Address is the address that will print on the Checks when paying bills.  If the Supplier has a different address for sending payments such as a P.O. Box but has a street address for their warehouse you would need to fill in the P.O. Box into the Remittance Address field.  If it is the Same as the Street address simply click on the Copy Address Button.