How to maintain, enter , edit or amend the information about our vendors:

1^st step you will execute the software and the following windows will appear on your computer screen:

After that go to the maintain tab and select the option of vendor:

After selecting the option the following windows will appear on your computer screen:

All the information is same as I've mentioned in my old blog post “how to maintain customers”.

In the above windows we will write the vendor’s ID and then the name of the vendor and in the general tab we will provide all the information about our vendor which will be useful for us to contact our vendor.

After that there is the tab of Purchase Default:

From this tab we will just select the account that will be affected due to our purchases:

Whenever we will purchase our inventory account will be debited as it is mentioned in the charts of accounts.

The next tab is Custom Fields as shown below:

In this tab you can enter the information about your vendors.

The history tab will show you all the transactions with you vendors in the past:

The next step is how to edit, enter or amend the information regarding your vendors:

After selecting the option of vendor the following window will appear on your computer screen:

This window contains different terms listed under “standard terms” and they are explained below:

1.       Payment Terms:

All the terms and conditions regarding the payment from our customers will be mentioned here.

By default the option that is selected is “Due in number of days” and next to it the related information is provided Net due in (days), Discount in (days), Discount %, Credit limit.

The term that is selected shows us that the amount of payment will be due in 30 days and if the customer pays us the amount within 10 days then he can avail 2% discount on the payment.

Accounting Presentation: “2/10,n/30”.

Now the other options that are available for you to select are C.O.D: in the below image you can see that the 1^st three columns are freeze and only the column of credit limit is active. This shows that we are not giving any discounts to our customer and we are just receiving the Cash onDelivery (C.O.D).

When you will select the option of Prepaid the following windows will appear and in this window again all the columns are freeze except Credit Limit. This option means you will receive the payment from the customers in advance and deliver the goods after that.

If we select the option “Due on day of next month”  this means that we will receive payment from our customer in the coming month e.g if we make sales in March then we will receive the payment from them in April and the information will be provided in the next columns.

And last if we select the option of “Due At end of month” then it means that we will receive the payment at the end of the month during which we have made the sales.

2.       Account Aging:

By selecting this option following window will appear on your computer screen.

In this option we do the forecasting of our bad debts and we can see this tab is further divided into 2 options: “Age Invoice by and Aging Categories”

In age invoices by the invoice date is showing that we will set the date to when the invoice is generated. And by selecting due date we are setting the time when our invoice date will be expired.

The Aging Categories portion is the one where we categorize the time periods.

3.       Custom Fields:

As I've explained before that there was a column in which you can enter extra information about customers and also can edit the questions or explanations that you want to add regarding your customers so for that you use the following tab.