 Hello in this lecture we will define vendor or vendor according to fundamental accounting principles wild 22nd edition the definition of vendor is seller of goods or services so when we're talking about the vendor we're talking about the person who is selling this seems obvious but it can be difficult to know which side of the transaction we are on and this is especially true when we're talking about book problems when we have to put ourselves into the actual problem it's also the case that we could use different terminology such as the seller of the goods rather than the vendor of the goods and we have to know this type of terminology as well so for example if we have the person who is purchasing on the left hand side we can also define that as Vendi a term we don't see quite as often we usually see the purchaser of the goods but on the right hand side we have the seller of the goods which we could define as the seller here but also often described as the vendor the vendor of the goods is it going to be a common term that will be used in many transactions and many textbooks so we have to know which side of this transaction we're on and obviously the difference between these two words is slight in terms of the Vendi the person who is purchasing and the vendor the person who is then selling we need to know the distinction between these two terms