 QuickBooks Desktop 2023 Vendor Center. Let's do it within two weeks. QuickBooks Desktop 2023. Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical reasonable fashion making it much more easy to find what you need then can be done on a YouTube page. We also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again click the link below for a free month membership to our website and all the content on it. Here we are in QuickBooks Desktop sample rock castle construction practice file provided by QuickBooks. We're going to go through the normal set up routine maximize in the home page go into the view drop down. I want to see the open windows list on the left hand side opening up the major two financial statement reports by going to the reports drop down company and financial looking first at the P and L profit and loss going to do the date range change up top I'm going to select tab type in 010124 tab 123124 so January 1st to December 31st 2024. I'm going to make the font a little bit larger you might not need to do this but I'm going to do it for the purposes of the presentation fonts and numbers you go to the change font let's try to make it 12 this time and see what happens okay yes and okay so a little bit bigger font there reports drop down again opening up the second major financial statement report company and financial balance sheet standard that's the one going to change the date up top to 123121 custom hold on a sec 123124 customize the report up top fonts and numbers increase in the font size bringing that up to 12 to okay yes please and okay so there we have it in the open windows we now have the balance sheet profit loss home page we're going to go back to the home page toggling to the home page we're focused in on the vendor section we did an overview of it on the home page now we want to look at the vendor center you can get to the vendor center a couple different ways that's going to be up top you can click here or you can go to the vendor drop down then the vendor center I believe the drop down's a little bit easier that's what I usually used oftentimes because if you don't have the home page open or if you're in a report the drop down will be faster to get there first just a quick recap on when you might use the home page when you might use the vendor center in the home page you got the normal flow of your activities so you're going to be entering bills and paying bills for example as you enter bills pay bills and write checks you could get them from here or go to those forms from the home page or you could get there from the drop down and enter those forms this way as you enter the forms you're going to be paying someone one of the major forms for example being the writing of a check when you write a check we know we're going to decrease the checking account we might be paying a new vendor so the vendor are the people that we're going to pay within QuickBooks and remember the terminology because note that when we use the term vendor even in accounting but especially just outside of the accounting world type of terminology then it it could refer to someone selling something we might refer to ourselves for example as vendors we sell stuff for our business but when you look at the QuickBooks terminology we have to pick a term depending on which side of the table we are on with regards to the transaction so a vendor for QuickBooks means who we're buying from note that that's again that's different than normal kind of terminology where you could be a vendor but but again the vendor means that the people that we're buying from that's the direction it's taking so these are all the people that eventually the money is going to go out from us to somebody else for goods and services we need for the running of our business now we could set up a new vendor as we enter the check because we might not have a vendor set up already and you could do that kind of as you go that's normally how you set up the vendors because usually you don't need a lot of detail on the vendors you could just add them basically as you go i'm going to close this back out you can also add the vendors by going to the vendor center or if someone has a question about a transaction whether you paid them an or not for example if you have a check that's outstanding they say they haven't received it then that's oftentimes when you might go to the vendor center like going to it here or to the drop down vendor center here two tabs up top we've got the vendors and the transactions i'm going to go to the vendor tab i'm going to close the carrot on the left hand side so now we've got on on the left you got these little toggles up top which will allow you to increase the these items kind of like excel and so you can see the names a little bit more clearly and you get this balance as of this point in time so it gives you that indian balance you can also run a report to get these balance to show who you owe money to remember these are people that that you bought stuff from and if you didn't pay them directly with a check or some type of cash payment then you got to track the accounts payable that means that these ones with transactions in them that still owe money to them is is caused by us creating a bill so we've got the vendors we've got the transactions if we were to add a new vendor we could do that by going to this item up top and add a new vendor we'll add new vendors in a future presentation notice that all you really need to add the vendor is the name and a lot of times with vendors that's all you put in because you're paying like utility company or something like that where you don't really care about their address and all that kind of stuff but there could be some instances where you might want more detail such as when you're paying someone that's an important vendor like who you buy inventory from for example so we'll go into this in more detail in future presentations but that's where you can add the vendors and again most of the time you add the vendors when you're entering like checks for example as you go now you can also enter transactions here so remember you've got multiple ways to get to the to the data input forms you can go to the vendor drop down and enter the bills and so on and now you're in the vendor center so you could go to the new transactions enter bill and pay bills these being the transactions that are going to be related specifically to the vendors the people that you're paying these are going to be those icons those forms that we saw in the home page in the vendor section so multiple different ways to get to basically the same place and then up top we've got the printing of the lists so we can print the vendor list you can also find this in the reports area and find the vendor list but this could be a quick way to get there you can export to excel the export the vendor list for example again you can use the exporting to excel and run reports from the report area as well the word prepare letters and then you could use the bill tracker this is another way to kind of sort the transactions we might take a look at in a bit more detail in a second here so we've got the list of the vendors these are created as we make payments also just realize that if you use something like bank feeds then the bank feed might not actually have the vendor in place when you enter say a check for example so you want to make sure that you enter the vendor because if you enter the vendor you're going to get a little bit more detail you'll be able to sort by vendor in other words if a bank feed goes through for example you're entering bank feeds and you go into if I go to a banking and I write a check then it's possible for me possibly not to have a vendor because I still have an account down here that it's going to and if I enter something that doesn't have the proper vendor then I'll still enter it to the right accounts which will be you know an expense account and decrease the checking account but I won't have that added detail of being able to find that transaction in the in the vendor so I won't be able to track by vendor right so you want to be able to have the vendors in place if you can to give you that added level of accounting accountability to be able to track it another way so if we select any of these vendors on the left hand side for example we select this one here we've got bills bills in the transactions tab the bills are going to be increasing the accounts payable so this is what we would expect to be having from someone that we're going to be paying money to either we write them checks directly or what we typically do is enter the bill into the system that they give us for something that we purchased goods or services and then we pay off the bill with a check form notice that this form is a check form the check form represents us decreasing the checking account but they also give us the added detail that it's a bill payment check form just telling us that that check form was specifically paying down the accounts payable not a check that was used directly going to an expense we'll talk more about those differences in the forms later obviously we have the in the information for the vendor up top so sometimes you might just have the name for example but obviously you might have more detail that we could have entered into the system we could have attachments up top and we could edit this information and add more detail here where we see the same kind of data input screen we saw when we first set up the vendor or when we looked at the vendor that we could set up closing this back out again so that is that we can also sort the transactions by all transactions and then you could sort by other other types of transactions so we might want to see for example just the bills so I'm going to say if some if they ask me a question the vendor asked me a question says there's a bill outstanding I can say let's just search for just the bills for example and then I could say do I want all bills or do I want just the open bills possibly I just want the bills that are open that I haven't paid or possibly the overdue bills so now if I double click on these bills I'm going to say okay yeah these bills are the open bills meaning I haven't paid them if I look at all bills and I pick one say that I have paid and I double click on it I can I can go into the bill here and see some activity with regards to that bill and we could see here that it's been paid here as well so this would be one of the major uses of this center right someone's going to ask questions about particular payment or something like that and we can go in here we could sort by that by the person that asked the question and then we can sort by the transaction so I'm going to bring this back to all transactions up top we've got the contact information tab the to dos the notes and the send email tabs up top the main one would probably be using all the time it's going to be the transactions tab now the other you could also of course manage the transactions so you got create new you can have a purchase order for this particular individual so let's do a bill so if I say bills so now it's going to make a bill to that particular individual notice this is just another way to get to the bill form but it prepopulates the the payment so so so now we have multiple ways to get to a bill we can get to the bill on the homepage we can get to the bill by going to the vendors section and enter bills we can get to the bill by going to the new transactions up top enter bill and then we can go into a particular vendor and enter the bill that way so it can get a little bit overwhelming with all these different ways you can get to the same place obviously you're going to choose probably your favorite kind of routine as you go you can run this report so if they ask you a question about this particular report and they want to see the activity on it for example this would be a way that you can run that report fairly quickly you can also kind of get to it might take a little bit more work from the report area but again this is a nice way to get to a detailed report like that pretty quickly closing that back out the other thing here is up top we got the vendors up top and we've got the transactions tab so the transactions tab now instead of us looking for the vendor first so if we're going into the vendor center one way we might do it is try to find the transactions by vendor look at the vendor first or we might go to the transactions themselves and then try to sort by transactions say I have a question about a purchase order or something like that then I could sort this information by the transactions by date rather than by first vendor and then I can say I want the open purchase orders or no I could go to the bills for example it might be quite common that we want to see basically the open bills right so I could say let me show me the open bills I don't care who I owe them to I just want to see a list of the open bills right that's one way that that you might have that you might want to look at just the overdue bills they're open they haven't been paid they're overdue we don't have any that's great so we're on time on everything pay bills and obviously the checks so notice the checks here although they were outside of kind of like the vendor section there's still kind of a vendor transaction you would think most of the time because most of the time you're paying the checks to basically a vendor so you got the checking information here and so on so those are the major functions of the vendor center obviously if I open up the carrot and go back to the homepage so just the summary on the vendor center ultimately money is going to be going out on the vendor center either we're paying them cash possibly the cash is going through the bank feeds for example and then we enter basically a check from the bank feeds we'd still like to enter the detail of that check in terms of who we're paying the vendor as we do that so that we can sort it by vendor we still have that added level of detail if we can do that that would be great we also might enter the checks ourselves with a check first and then it clears the bank which again we're going to enter the vendor when we write the check of course in that case then or we might enter a bill if we enter a bill that means we're tracking the accounts payable at that point in time and that's when the vendor center becomes more important a lot important because then you're going to have questions with vendors about outstanding balances does my balance match your balance what is the outstanding balance and that's oftentimes when you're going to go to the vendor center especially in larger companies that have people that spend all their time doing the accounts payable and be tracking you know the payables working with your vendors to make sure that that you're lining up in terms of how much money you owe them have you received the the goods are their open purchase orders and that kind of stuff here so and also again just remember the vendor for QuickBooks means that ultimately the money is going out from us to somebody else that's a QuickBooks term the directionality is important in QuickBooks because we have to determine which side of the table we're on in these forms and remember that that's different than normal even accounting terminology where you might use the vendor you might call yourself a vendor rates from from QuickBooks we might be a vendor we might sell stuff in practice but we're not the vendor for QuickBooks the vendor represents who we're paying if someone else was paying us in their QuickBooks file we would be the vendor because we're providing them goods and services from our QuickBooks files perspective they're the vendor because we're paying them and the customer from our perspective from the QuickBooks perspective is going to be the people that are paying us again we as a business are a customer to the vendor right so it gets a little bit confusing in terms of the terminology we got to keep the directionality straight with regards to the QuickBooks software even though that doesn't line up exactly to how we might use it in common parlance