How to Navigate the Vendor Menu in QuickBooks 2011

The Vendor Menu for QuickBooks 2011 allows you to create purchase orders, enter and pay bills, and receive orders. And although these are some of the menu's more common functions, it can help you complete a few more vendor-related tasks in QuickBooks.

Vendor Center

The Vendor Center window displays a list of vendors and detailed vendor information for the selected vendor. To use it, select a vendor from the Vendors drop-down list. The Vendor Center shows a bunch of information about the one you chose. This information all comes from the Vendor List, by the way.

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If you keep records of your vendors, including information such as their telephone numbers, the best place to store that information is in the Vendor List. You have to maintain the Vendor List in order for QuickBooks to work, so why not do the little bit of extra effort and keep all your vendor information there? If you adopt this approach, you can use the Vendor Center window to quickly look up things such as the vendor's phone or fax number.

Sales Tax Menu commands

The Sales Tax command displays a submenu of commands that pay sales tax amounts you've collected to the appropriate tax agency; adjust the sales tax liability due; and produce reports on the sales tax liability you owe, the sales tax revenue you've generated, and the sales tax codes you've set up.

To print one of the sales tax reports, simply select the command that corresponds with the report. For example, to print the Sales Tax Liability report, choose Vendors→Sales Tax→Sales Tax Liability.

Inventory Activities

The Inventory Activities menu displays a submenu of commands you use to work with QuickBooks inventory features and with the related Item list.

Print 1099s/1096

The Print 1099s command displays the Printing 1099-MISC and 1096 Forms dialog box, which lets you print 1099-MISC forms for a selected calendar year. You can select the year for which you need to print 1099 forms by selecting a date range description from the drop-down list.

You typically send 1099 forms to vendors to whom you pay more than $600 in a year. You can control the actual threshold amount — it varies from year to year because of inflation, type of payment, and tax law changes — by choosing Edit→Preferences, clicking the Tax: 1099 icon, and then clicking the Company Preferences tab.

Item List

The Vendors→Item command displays the Item List window. The Item List holds all your information about the things you sell, the things you buy, and everything else that might appear on an invoice or purchase order.

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