Overview
The Office System allows users to group their Vendors by Category. By selecting a Vendor Category, this provides users a greater level of detail for reports. This information can be very helpful for future reference, especially if the user has a particular Category of Vendors they use for certain expenses. For example, Titleist is a vendor most Clubs use strictly for the Pro Shop. By creating a Category called Golf, the user can filter a report that only shows Vendors and costs associated with the Golf/Pro Shop. If the user has a large number of Vendors and wants to pull reports on just a certain aspect of their business, creating a Category will allow for reports to be pulled rapidly. Please Note: Vendor Categories are a required field when creating new Vendors. With this said, it is important to keep Vendor Categories clean and easy to track.. Use Case(s)
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Content
Accessing the Tool
Best Practices
Add default Expense Ledger to Vendors when applicable. This will help quicken the Invoice Entry Process.
Establish a naming convention for assigning Vendor Account Numbers to help improve Accounts Payable efficiencies in entering and researching Vendor items.
Periodically, the Vendor Master file should be reviewed by Management, and Vendors no longer utilized should be inactivated (and depending on period of inactivity, deleted from the master files) to improve financial controls.
For expenses consistently split between departments, utilize the Expense Split feature in the Departments tab of the Vendor Setup to automate expense allocation to the appropriate areas.
FAQs
Q. How many fields do I have to fill out to create a Vendor?
A. The Vendor Name, Account Number (Vendor Number), Vendor Category, Terms, and the Department(s) authorized for the Vendor are the required fields to create a Vendor.
Q. How can I see the Insurance Tab to track our Vendor Certificates of Insurance?
A. The Insurance tab is only visible when the Track Insurance option has been selected in the main Vendor Setup screen. Once this is checked, records to track certificates of insurance can be added to the Vendor file.
Downloadable Guide