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Managing Vendors

Vendors and suppliers are essential partners for your business. Ledgerflow provides comprehensive tools to manage your vendor relationships, track purchases, and monitor payment history.

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Vendor Management Overview​

The Vendors module in Ledgerflow allows you to:

  • Maintain a database of all your suppliers and vendors
  • Track vendor contact information and payment details
  • View purchase history and outstanding balances
  • Manage vendor-specific pricing and terms
  • Generate vendor statements and reports

Adding a New Vendor​

Follow these steps to add a new vendor to your system:

  1. Navigate to the Clients tab on the left sidebar menu

  2. Select the Vendors tab

  3. Click the Add Vendor button in the top right corner

  4. Complete the following information sections:

    Basic Information​

    • Name: Enter the vendor's name (required)
    • Email: Vendor's email address for communications
    • Phone: Primary contact number
    • Mobile: Alternative contact number
    • Website: Vendor's website URL if applicable

    Address Information​

    • Address Line 1 & 2: Street address
    • City: Vendor's city
    • State/Province: Select from the dropdown
    • Postal/ZIP Code: Postal code
    • Country: Select the vendor's country

    Financial Information​

    • Opening Balance: Enter any existing balance you owe to the vendor
    • As of Date: The date of the opening balance
    • Payment Terms: Default payment terms for this vendor
    • Default Account: The expense account typically used for this vendor

    Tax Information​

    • Tax ID/VAT Number: Vendor's tax identification number
    • Tax Treatment: Specify how taxes should be handled for this vendor

  5. Click Save to add the vendor to your database

Viewing and Managing Vendors​

The Vendors list view provides a comprehensive overview of all your vendors:

  • Search: Quickly find vendors by name, email, or other criteria
  • Filter: Filter vendors by status, balance, or other attributes
  • Sort: Arrange vendors by name, balance, or recent activity

Vendor Detail View​

Click on any vendor to access their detailed profile:

  • Overview: See key information and summary of activity
  • Transactions: View all purchases, payments, and other transactions
  • Notes: Add and view notes about the vendor
  • Documents: Attach and access vendor-related documents

Editing Vendor Information​

To update a vendor's information:

  1. Navigate to the vendor's detail page
  2. Click the Edit button
  3. Update the necessary information
  4. Click Save to apply your changes

Vendor Statements​

Generate statements to reconcile your account with vendors:

  1. From the vendor detail page, click Generate Statement
  2. Select the date range for the statement
  3. Choose to include paid bills or only outstanding items
  4. Click Generate to create the statement
  5. Download or print the statement for reconciliation

Vendor Insights​

Ledgerflow provides valuable insights about your vendors:

  • Outstanding Balance: Track how much you owe each vendor
  • Payment History: View your payment patterns to vendors
  • Purchase Analysis: See purchase history and trends
  • Cost Analysis: Analyze which vendors offer the best value

Managing Vendor Credits​

When a vendor issues a credit:

  1. Navigate to the vendor's detail page
  2. Click Record Credit
  3. Enter the credit amount and details
  4. Apply the credit to specific bills if desired
  5. Click Save to record the credit

Best Practices for Vendor Management​

  • Maintain accurate vendor information for smooth communication
  • Regularly review vendor payment terms and pricing
  • Document important vendor interactions with notes
  • Pay vendors according to agreed terms to maintain good relationships
  • Periodically review vendor performance and value

Coming Soon Features​

  • Vendor Portal: Allow vendors to submit invoices electronically
  • Vendor Categorization: Group vendors by industry, location, or other criteria
  • Automated Payments: Schedule recurring payments to vendors
  • Vendor Performance Metrics: Track and evaluate vendor reliability and quality