How to Add vendors in QuickBook Online?

 Clients need vendors

In the event that a client is involved in the sale of products or is engaged in the provision of professional services, it is highly probable that they will require vendors who can supply them with necessary goods or services that are crucial to their business operations. As such, it would be advantageous for these clients to have a system in place for the storage of information on their various vendors. This would enable them to efficiently access vendor information as and when needed.

About vendors

Once engaged, vendors are instrumental in delivering goods or services that meet the needs of your client's business. QuickBooks Online facilitates payments to vendors through money-out transactions. Once vendors have been set up in QuickBooks Online, clients can perform two critical tasks.

• Firstly, they can quickly enter vendor bills and include information such as the tax ID, remit-to address, and the due date. Doing this will pre-populate this information on purchase orders, bills, checks, or expenses

• Secondly, they can keep track of expenses by vendor and run reports that will provide insight into what expenses are purchased from each vendor and how much they are paying each vendor

Note that with the first vendor, an easy entry screen appears. 
The Vendor display name field will automatically populate. This can be changed to either the company name or the first name of the vendor.

Adding a vendor in Quickbooks Online

When adding a new vendor, add as much information as you can about them in the Vendor Information screen.

1.     Select Expenses from the left-hand navigation, then select Vendors

2.     Select New vendor

3.     Enter the vendor details to the Company name and name fields

4.     Fill out the Email field

5.     Enter the phone number(s) that align with that vendor

6.     In the Address section, enter the vendor’s address

7.     In the Additional info section, under the Terms dropdown, select the correct net terms

8.     Leave the Opening balance as zero

9.     Enter an As of date if necessary or leave it on the current date

10.                        Select Save 

That’s it!

     

Vendor details

Let’s look at what details your client could add about their vendors. Note that while not all the fields are required, they should aim to add as much detail as possible.