How to Create and Use Vendor Records in QuickBooks Online
Keeping your supplies coming in may be difficult right now. Be sure you know your vendors and track their records carefully.
Creating Vendor Records
- Cost rate/hr and Billing rate/hr. These help you track time costs for your projects. Don’t enter anything here if you pay vendors via bills or expenses.
- Terms. Due on receipt? 15 days? 30 days?
- Account no. and Business ID No. You should have these on file.
- Track payments for 1099. Put a check in this box for any 1099 contractors.