Keeping accurate vendor records is extremely important. In Accounts Payable, you can track a vendor's 1099 information, Federal Tax ID, addresses, phones, e-mails, expense account information, comments, contacts, and payment types.
Here's an overview of each tab on a vendor's record:
- Profile — Tracks the vendor's 1099 status and terms. You can also attach documents to this tab, such as the vendor's Form W-9. The vendor's contact information also displays on the Profile tab so you can access this information quickly. You can also enter the vendor's 1099 state and determine if a vendor is a one time vendor.
- Addresses — Tracks addresses for customers, employees, and vendors. You can choose one address as the main or primary address, and select another one as the mailing address. For each record that an individual has in ACS, you can select a different primary and mailing address. You can also designate one address as the global address for all of the individual's records.
- Phones/E-mail — Tracks phone number or e-mail address information for an individual or a vendor. Since individuals can have more than one record type in ACS (for example, vendor, employee, contact, or customer), you can select a different primary phone number and e-mail address for each record type. You can also click on the e-mail icon to send an e-mail to the selected address from this window.
- Accounts — Tracks information used to complete fields on an invoice. If you are using fund accounting and selected Enable Fund Accounting in Accounts Payable Setup, the checking account information does not display. When you select the vendor for an invoice, the expense account is automatically assigned to the invoice. If necessary, you can change the expense account on the invoice.
- Comments — Tracks comments for the selected record. You can add comments to an individual's record and associate a date and comment type with the comment. You can also select a comment as the key comment for the record and display it in the ACS grid. You can mark only one comment as the key comment.
- Contacts — Tracks contacts for each record. You can add as many contacts as you need and assign a type to the contact. You can add multiple phone numbers for each contact and assign a type to each phone number. You can also assign one contact as the primary contact for the record. ACS marks the first contact you enter for a vendor or individual as the primary contact. Although you can have only one primary contact for each record, you select which contact is the primary contact.
- Payment Type — Tracks a vendor's forms of payment (Check, Online, ACH) and accounts.