How to Add a New Vendor in a Master Data

To make understand easily, Vendor master data has been divided into  4 sections:

1. Name Section

2. Communication Section

3. Accounting Section

4. Instruction Section

Name Section:

1. Name:

It refers to the name of the vendor company.

2. DBA:

• DBA Stands for "Doing Business As".
• A company is said to be "DBA" when the name under which they operate their business differs from its legal, registered name.

3. Code:

ERP management will be allocating some codes to the supplier, Based on the company name, Which Product, Location or it may be any code. 

4. Parent Location:

By allocating the nearest location to the vendor, All the necessary things will be handle from that parent location.It may be any support, funding,billings, shipments concerns,etc.

5. Contact Name:

This field ensures the right person from the vendor side to represent their company details. Will be a mediator between ERP management and company / Industry.

Communication Section:

1. Contact Information:

In contact information section, Generally we see primary & secondary phone numbers, mobile number, fax number, Email address, website of the vendor.

2. Remit-To Address:

In order to make payments for the vendor from customers / Managements, So we need supplier address details for sending the cheques / check payments. 

3. Shipping Details: 

The shipping address is the physical address where vendor warehouse address will be located. If customer needs to ship back the product to vendor at that time shipping address of the vendor should be needed.

Accounting Section:

1. Payment Terms:

Certain payment terms and conditions will agreed between the customer / Management and the vendor before the shipment is done.

2. GL Expense Account:

The expenses carried out or any purchases made while doing shipment package to the customer / mangement, Will be added into this GL expenses account.

3. Account:

Account number of the vendor will be provided in this field for making payments.

4. Tax Number:

A Taxpayer Identification Number (TIN) is an identifying number used for tax purposes in the United States. It is also known as a Tax Identification Number or Federal Taxpayer Identification Number.

5. Memo On Check:

Memo means, Remark. Generally, In USA while filling the cheque / check details, We need to mention what purpose of this payment in memo field.

Instruction Section:

1. Vendor Login:

It will be created for the vendor, Who regularly do's shipments and Placing all the orders info at one page and making the customer to access those items with necessary credentials.

2. Internal Notes:

Internal notes will provide for the vendor,  any changes that they need can enter those details in internal notes section.