When you’re setting up your QuickBooks Pro software, it’s easy to remember to add customers (since that’s the bread and butter of your business), but it’s important not to forget about your vendors.
We already explained one method adding vendors in How to Import Vendors Into QuickBooks Pro, but you can also add vendors manually.
If you already read How To Add Customers In QuickBooks Pro, then this process is going to be a piece of cake. If not, don’t worry. We’ve broken everything down into 16 simple steps.
Table of Contents
Create A Vendor
To add a vendor in QuickBooks Pro, begin by going to Vendors>Vendor Center>New Vendor…
Vendor Information is divided into five sections: Address Info, Payment Settings, Tax Settings, Account Settings, and Additional Info. The only required field is Address Information, but we’ll go over the others as well.
Step 1: Enter Vendor’s Name
Type your vendor’s name.
Step 2: Add An Opening Balance (Optional)
You can add the opening balance you owe your vendors.
If you add an opening balance, you’ll also need to select an “as of” date. You can click on the blue “How do I determine the opening balance?” link for more details.
Add Address Information
Step 3: Enter The Company Name
Add your vendor’s company name.
Step 4: Write Vendor’s Full Name
Enter your vendor’s full name and title.
Step 5: Add Vendor’s Job Title
Fill in your vendor’s job title.
Step 6: Record Vendor Details
Use the drop-down menus to save eight fields of vendor details, including:
- Main Phone
- Home Phone
- Work Phone
- Mobile
- Alt. Phone
- Alt. Mobile
- Main Email
- CC Email
- Alt. Email 1
- Alt. Email 2
- Website
- URL 1
- URL 2
- URL 3
- URL 4
- Skype ID
- Other 1
- Other 2
- Other 3
Step 7: Add A Billing Address
Edit your vendor’s address information.
Step 8: Add A Shipping Address
If the vendor’s shipping address is the same as their billing address, click “Copy>>.” If not, fill in the proper shipping address now. Then click the blue “OK” button.
Adjust Payment Settings
Step 9: Add An Account Number
Add an account number for your vendor (if applicable).
Step 10: Select Default Payment Terms
Select the proper default terms for this particular vendor. You can choose between:
- 1% 10 Net 30
- 2% 10 Net 30
- Consignment
- Dues on receipt
- Net 15
- Net 30
- Net 60
Step 11: Edit Print Settings
Choose how you want your vendor’s name printed on checks (in our case, we chose the company name rather than the name of an individual at the company).
Step 12: Set A Credit Limit
You can set a credit limit if desired.
Step 13: Set A Billing Rate Level
Much like customer pricing levels, it’s possible to create billing rate levels in QuickBooks. You can add one now or click the blue question mark to learn more about this feature.
Edit Tax Settings
Step 14: Enter A Vendor Tax ID
If applicable, enter a vendor tax ID. At this time, also mark whether the vendor is eligible for a 1099 tax form (1099’s are used for freelancers and independent contractors).
Edit Account Settings
Step 15: Attach Vendors Expenses To An Account
Tell QuickBooks where you want vendor bill transactions to be recorded. Choose an expense account from the chart of accounts drop-down menu.
Add Additional Info
Step 16: Specify A Vendor Type
Use the drop-down menu to note where this customer came from. You can choose:
- Consultant
- Service providers
- Suppliers
- Supplies
- Tax agency
Step 17: Create Custom Fields
You can create a custom field for your vendor. Click the “Define Fields” button in the bottom right-hand corner of the screen. Then write a label for your custom field and select whether that custom field applies to contact, vendors, or employees.
Step 18: Save The Vendor
Finally, save your vendor by clicking the blue “OK” button on the bottom of the screen.
You can view your vendor list or go back to the Vendor Center to make sure the vendor saved correctly. Repeat this process as many times as needed until all of your vendors are successfully added to your QuickBooks account.
If you have any troubleshooting issues, check out the QuickBooks Community or call QuickBooks directly. If you have any further questions, leave a comment below and we’ll do our best to help you.
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