Chapter Four

Maintaining Vendors Ledger

 Maintain Vendors window
oUse the Maintain Vendors window to enter, change, and store information about the
companies and people from whom you purchase goods and services. This includes
information such as:
name and address information of the vendor including mailing address, phone
numbers, e-mail address, and Web site address
vendor history such as:
last invoice and
 last payment information,
period history and
the date of the first purchase from the vendor.
the General Ledger purchase account
terms of payment and credit limit
your balance with this vendor
the type of 1099 form sent (if any)
 Maintain Vendors window Cont…
o You can add a vendor, change existing vendor information, or delete
a vendor if no transactions have been entered for the vendor.
Setup a Vendor Ledger
o Use this procedure to set up a new vendor record.
 From the Maintain menu, select Vendors.
 Setup a Vendor Ledger cont….
Peachtree displays the  Maintain vendors window .
 Vendor Header Field
o Vendor header fields are located above the folder tabs of the Maintain
Vendors window.
o This is where you enter lookup information about the vendor such as the
vendor ID, name, and status.
o Vendor ID: This code can be up to 20 alphanumeric characters. Lists and
reports sort on vendor IDs, so the coding convention you use is
important.
o Numeric characters sort before alpha characters. For example, the
following ID codes are sorted this way:
 1Z2Z
 A1ZZ3
 AAA02
 Vendor Header Field
o the code is case sensitive, so that codes A1 and a1 are seen as two
different vendor IDs.
o Capital letters sort before non-capital letters.
o You cannot use *, ?, or + in the code.
o Back and Next: Use these buttons to navigate through the list of
existing vendor records by ID.
o Select the Back (left arrow) button to see the previous record in the
list; select the Next (right arrow) button to see the next record in the
list.
o Name: Enter the name of the new vendor (up to 39 alphanumeric
characters) here. This name prints on checks and reports.
o This can be a company name or an individual's name.
 Vendor Header Field cont….
o Inactive: If you plan to purge this vendor when you close the
fiscal year, select this check box.
o Once a vendor record is inactive, Peachtree displays a warning
when you try to make a purchase or payment to the vendor.
o You can update the vendor record with address and telephone
information.
o Important: When you choose to purge after closing the fiscal
year, all vendors that have no outstanding transactions and
are tagged as inactive will be purged.
 General (Maintain Vendors)

o To enter basic information about the vendor such as contact

information, address, phone and fax numbers, and beginning
balances, select the General tab in the Maintain Vendors
window.
 Purchase Defaults (Maintain Vendors)
oTo set up unique purchase transaction defaults for each vendor record,
select the Purchase Defaults tab in the Maintain Vendors window. You
can change this information at the transaction level, if necessary.
oPurchase Rep: You can enter or select an employee to act as the purchase
rep for this vendor.
o Purchase Acct.: Enter a General Ledger account for the default purchase
account for this vendor.
o This is normally an expense account.
o The default for this is set in Vendor Defaults.
o When purchasing an inventory item, the General Ledger default
accounts entered in Maintain Inventory Items override this default
account.
 Purchase Defaults (Maintain Vendors)
oTax ID #: Enter the vendor's tax ID number.
o This is only necessary if you send this vendor a 1099 form.
oAccount #: The Account # is the number the vendor uses for
your account.
oThis is the number that many vendors request you place on
your check when you send in your payments.
oIf you want, you can create a check form that includes this field. 
o Ship Via: Select the primary shipping carrier that this vendor
uses for items.
The shipping carriers are set up in Inventory Item Defaults
 Purchase Defaults (Maintain Vendors)
oCC Purchase Rep: Select this to automatically send an e-mail copy of the
form to the default purchase rep (whose ID appears in the Purchase
Rep field) whenever you send a form to the vendor.
 Custom Fields (Maintain Vendors)

oTo enter custom field information for the selected vendor

record, select the Custom Fields tab in the Maintain
Vendors window.
oCustom field names are set up in Vendor Defaults.
 Custom Fields (Maintain Vendors)
o To enter custom field information for the selected
vendor record, select the Custom Fields tab in the
Maintain Vendors window.
o Custom field names are set up in Vendor Defaults.
History (Maintain Vendors)
 History (Maintain Vendors)
o To display the selected vendor's current history, select the
History tab in the Maintain Vendors window.
o When entering a new vendor, you can enter information on
this tab; once you save the vendor record, this tab is for
display purposes only.
o Vendor Since: Enter the date you first had a transaction
with the vendor.
o Last Invoice Date: Enter the date of the last invoice you
received from the vendor.
o Last Invoice Amt.: Enter the amount of the last invoice.
o Last Payment Date: Enter the last date you paid the
vendor.
o Last Payment Amt.: Enter the last amount you paid the
vendor.
 Enter vendor beginning balances cont…
oEntering the beginning balances of your vendor
accounts is an important step in setting up vendor
records in Peachtree.
oThis step is relevant if you are converting your
existing accounting system to Peachtree and there
are still amounts owed to existing vendors at the
start of your conversion period.
o However, this step can be omitted if you are using
Peachtree at the same time you start up business or
if you are creating a new vendor that your business
has never dealt with before.
 Enter vendor beginning balance cont…
o To enter the beginning balance owed to vendors, click the
History tab in the Maintain Vendor window.
o Down the bottom of this window, click Vendor Beginning
Balances.
 Enter vendor beginning balance cont…
oThis will open the Vendor Beginning Balances window for
that vendor.
 Enter vendor beginning balance cont…
o To enter the details of an outstanding purchase invoice
(bill), record the invoice number, date purchase order
number (if applicable) and amount owed to the vendor
o You can record more than one unpaid purchase invoice if
those purchases have not been paid in full at the time
your business is converting to Peachtree.
o Click the Save icon to save the beginning accounts
payable balance for that vendor.
o To continue recording the balances of more than one
vendor at a time, click on the Vendor Balances tab.
o The example below shows a list of three vendors that
have been created in Peachtree.
 Enter vendor beginning balance cont…

o\

oYou can select a vendor from the list by clicking on the vendor’s name.
oNotice that once the vendor is selected, the name of the first tab changes to
display the name of the vendor you have selected.
 Enter vendor beginning balance cont…

o Click on the first tab to enter the purchase invoices that

make up the beginning balance for that vendor.
o You can follow this process for as many vendors you have
set up in Peachtree.
o Remember to click the Save icon once you have entered
the balance for each one!
 Changing a vendor's default information

o The payment terms that are offered by a particular vendor

may be different to the vendor default terms you set up in
Peachtree.
o For example, you may receive purchase discounts from
most of your vendors but do not get any discounts from a
particular vendor.
o To override the default settings for one particular vendor,
open the Maintain Vendors window for that vendor and
select the Purchase Info tab.
o Under the Terms and Credit heading, select Customize
terms for this vendor from the drop down list provided.
 Changing a vendor's default information
oYou are then able to alter the settings for this vendor as displayed below.

oNote that any terms that you alter are only applied to this vendor.
oThe default terms you entered when you set up the vendor default
information will apply to all other vendor records if you have not
customized their terms.
 Modifying or deleting vendor records
o After you have created your vendor records, you
may need to modify the information recorded in
those records.
o For example, you may deal with a new contact
person about the account so you may have to
change the contact name for that vendor Or
o you may need to delete a vendor record for some
reason.
o Read on to find out how to modify or delete a
vendor's record in Peachtree.
 Modifying vendor records
o In order to alter your vendor records, you simply
open the Maintain Vendors window for that vendor,
make the required changes, and save your changes.
o But how do you open the Maintain Vendors
window for a particular vendor? There are several
ways this can be done.
o One approach is to look for the name of the vendor
in the Vendor list in the Vendors & Purchases
Navigation Center.
o Click on the name of the vendor to open
the Maintain Vendors window for that vendor.
 Modifying vendor records

o Alternatively, you can locate the vendor's record through

the Vendor List window.
o To display the Vendor List window, click on the Vendors
icon and select the View and Edit Vendors option from
the drop down list available.
o In the Vendor List window that appears, you can double
click the name of the vendor to open the Maintain
Vendors window for that vendor.
Modifying vendor records
 Modifying vendor records
o Note that there are other ways to open the Maintain
Vendors window for a particular vendor.
o We encourage you to explore Peachtree to find the
way that best works for you!
Deleting vendor records
o To delete a vendor's record in Peachtree, perform
the steps above to open the Maintain
Vendors window for that vendor.
o Once open, click the Delete icon.
o You will be asked 'Are you sure you want to delete
this record?'
 Deleting vendor records
o Click the Yes button to delete that vendor's record
from Peachtree.
o Note that Peachtree does not allow you to delete
a vendor's record that has transactions applied to
it.
o However, if you have transactions recorded for a
vendor's record that you want to delete, you
really should be questioning whether you should
be deleting that vendor record in the first place!