How to Add New Vendors in QuickBooks Online

How to Add New Vendors in QuickBooks Online: Video

          This video lesson, titled “How to Add New Vendors in QuickBooks Online,” shows you how to manually add new vendors in QuickBooks Online. This video lesson is from our complete QuickBooks Online tutorial, titled “Mastering QuickBooks Online Made Easy.”

Overview:

            To open the Vendors page in QuickBooks Online, click the “Vendors” link under the “Expenses & Bills” app in the “My Apps” bar. After you add vendors in QuickBooks Online, they appear in the “Vendors” list within the Vendors page. A “Prepare 1099s/Pay bills/Order checks” drop-down button and a “New Vendor/Import vendors/Multiple vendors” drop-down button will also appear in the upper-right corner of the page.

How to Manually Add a New Vendor:

            To manually add a new vendor to the “Vendors” list if you haven’t added vendors yet, click the “Add Vendor” button in the Vendors page to open a “Vendor” pane at the right side of the window. Alternatively, to manually add a vendor if you have already added vendors, instead click the “New vendor” button in the upper-right corner of the page to open the same “Vendor” pane.

            The “Vendor” pane is divided into “Name and contact,” “Address,” “Notes and attachments,” “Bill Pay ACH Info,” and “Additional info” sections. A toolbar appears in the upper-right corner of the pane with buttons you can click to jump to the corresponding section.

Enter Name and Contact Information:

            Type the vendor’s company name into the “Company name” field in the “Name and contact” section. If needed, then type the vendor’s name into the “Title,” “First name,” “Middle name,” “Last name” and “Suffix” fields. Use the “Vendor display name” drop-down to choose how to show the vendor’s name in your lists and forms.

            Then type the vendor’s email address into the “Email” field. If you use Bill Pay in QuickBooks, this is the email the vendor uses to get payments from you. You can enter the vendor’s phone, mobile, and fax numbers into the “Phone number,” “Mobile number” and “Fax” fields.

            You can enter any other customer contact number into the “Other” field. Then enter the vendor’s website into the “Website” field. If needed, to choose how to print the vendor’s name on checks, enter the desired name into the “Name to print on checks” field.

Enter Address Information:

            The “Address” section lets you enter the vendor’s address into the fields provided. To show the mapped address in a web browser after entering it, if needed, click the “Preview address” link below it.

Enter Notes and Attachments:

            To add notes about a vendor, enter the notes into the large “Notes” field in the “Notes and attachments” section. To add an attachment, click the “Add attachment” link in the Attachments” field, use the “Open” dialog box that launches to find the attachment, click it to select it, and then click the “Open” button in the dialog box to upload it and attach it to the vendor record.

Enter Bill Pay ACH Info:

            To add ACH info to pay bills from this vendor, enter the bank account and routing numbers into the “Bank account number” and “Routing number” fields in the “Bill Pay ACH info” section.

Enter Additional Info:

            To record the vendor’s business ID number or social security number, if needed, type it into the “Business ID No. / Social Security No.” field in the “Additional info” section. To track payments to this vendor for 1099s, check the “Track payments for 1099” checkbox.

            To enter a cost per hour for this vendor, type it into the “Cost rate (/hr)” field. To enter an hourly billing rate for this vendor, type it into the “Billing rate (/hr)” field. To select the payment terms from this vendor, select a choice from the “Terms” drop-down. If you have an account number with the vendor, you can enter that into the “Account no.” field. This value appears in the “Memo” field of all vendor payments.

            To set a default expense account for purchases from this vendor, select it from the “Default expense category” drop-down. If creating a new record for a vendor to whom you owed money for bills already received as of the start date of your company file, enter the amount you owed and the start date of the company file into the “Opening balance” and “as of” fields. For vendor records that you create after starting your QuickBooks company file, you will leave these two fields blank, as the amounts you owe to those vendors will be recorded by the bills you enter to track your payables.

            To save the vendor record, when finished, click the “Save” button in the lower-right corner of the pane to save the vendor record into the vendors list.