default information of vendors

STEP: 10

Now after making your vendor account, you will now move forward to make default information of the vendors which you maintain in your software.

You will go back to the main window and again select default information of your vendor and then fill all the requirements which are necessary for vendors account.

                                          

 STEP: 10

The first requirement is of “payment terms” in this you have to mention the terms and conditions of your purchase that at which date you will pay your vendor and at which discount rate, this discount also have some conditions which are settle by the vendor. You have two options here which you have to fill the first one is of “purchase account” in which you will enter the inventory account balance which is already exist in your chart of accounts and the next option “ Discount GL account” is also filled by the balance of your inventory account.           

              

        

STEP: 11

After you select the inventory account, the balance of your inventory will be shown in these two columns then you press “ok” to save it, after this you will move forward to the next requirement which is “account aging”:

                      

STEP: 12

This below window tells you about the account aging, means the date at which the invoice issued to you by the vendor and also tells you about the date at which you have to pay the amount. Account aging also categorize the days of the payments in different columns.

                     

STEP: 13

In “custom fields” you already made changes by adding one more location to this column. This location is for your vendor from whom you purchase inventory on account .After adding another option here you will press “OK”