How to Add Vendors to Your QuickBooks 2015 Vendor List
Adding vendors to your QuickBooks 2015 Vendor list works the same basic way as adding customers to your Customer list. Just follow these simple steps to get the job done:
Choose Vendors→Vendor Center or click the Vendors icon at the top of the screen.
QuickBooks displays the Vendor Center window. Along with listing your vendors, it lists any sales tax agencies that you identified as part of setting up Sales Tax items.
Click the New Vendor button and then choose the New Vendor command from the menu that appears.
QuickBooks displays the Address Info tab of the New Vendor window. You use this window to describe the vendors and all their little idiosyncrasies.
If you click the New Vendor button and choose the Add Multiple Vendors command, QuickBooks displays a worksheet you can use to describe multiple vendors at a time.
Enter the vendor name.
The cursor is already in the Vendor Name text box. All you have to do is type the vendor’s name as you want it to appear on the Vendor list. If you want to list your vendors by company name, enter the company name. To list them by the first or last name of the sales representative, enter one of these names.
The list is going to sort, alphabetically or numerically, by the information you enter in this field, not by the information below.
(Optional) Enter the name of your contact.
Fill in the Full Name text boxes with the customer contact’s first name, middle initial, and last name. You can also supply a title for the contact person.
(Optional) Enter the vendor’s telephone and email address and, if available, the fax number and website addresses.
You can change the labels used for the telephone number boxes by choosing some other description from their drop-down list. And do note that the window also has an Other 1 text box so you can record some other bit of tangential information. Perhaps the contact’s weight.
Enter the address to which you’re supposed to mail checks.
You can use the Address Details Billed From and Shipped From text boxes to provide the vendor’s addresses information. QuickBooks copies the Company and Contact names to the first line of the address, so you need to enter only the street address, city, state, and ZIP code. To move from the end of one line to the start of the next, press Enter.
(Optional) Check the default Payment Settings tab’s information.
Click the Payment Settings tab to get to a set of boxes that lets you record the vendor’s account number, vendor payment terms, the right name to print on the check, and the credit limit.
An account number is required, if you want to use QuickBooks’ online bill payment feature to pay the vendor. QuickBooks transfers the account number to the memo field of the payment check.
(Optional) Check the default Tax Settings.
You can click the Tax Settings tab to get to a set of boxes that lets you record the vendor’s tax identification number and indicate whether the vendor should receive a 1099 information tax return from you at the end of the year.
(Optional) Provide the default accounts to use with a vendor.
You can click the Account Settings tab to display a short list of accounts that QuickBooks will use to prefill account number fields when you enter a bill from the vendor.
(Optional) Click the Additional Info tab and categorize the vendor.
The Additional Info tab initially provides just a Vendor Type drop-down list that you can use to categorize the vendor as a consultant, service provider, supplier, or tax agency. You can, however, add custom fields to the tab by using the Define Fields button.
Type 0 (zero) in the Opening Balance text box.
You typically don’t want to enter the amount you owe the vendor; you do that later, when you pay your bills. However, if you’re using accrual-basis accounting for your expenses (which just means that your accounting system counts bills as expenses when you get the bill and not when you pay the bill), you need to tell QuickBooks what amounts you owe vendors at the conversion date.
You can do that most easily by entering opening balances for vendors into the Opening Balance box as you set up a vendor in the Vendor list.
Enter the conversion date in the As Of date field.
What you’re doing here, by the way, is providing the date on which the value shown in the Opening Balance text box is correct.
QuickBooks provides an Account Prefill tab on the New Vendor window. Use this tab to specify a set of expense accounts that QuickBooks will suggest any time you indicate you’re writing a check, entering a bill, or entering a credit card charge for the vendor.
Save the vendor information by clicking OK.
This step adds the vendor to the list and returns you to the Vendor Center window.
To add a large number of vendors to the Vendor list at the same time, display the Vendor Center window, click the New Vendor button, and then choose the Add Multiple Vendors option. QuickBooks displays the Add/Edit Multiple List Entries worksheet, which lets you collect and edit all the same information that the regular vendor windows do.
You can, if you’re inclined, use this window to copy and paste vendor information from a Microsoft Excel workbook.