Using Accounts Payable

Understanding VendorsUnderstanding VendorsVendors are all persons, organizations, and companies to whom you makepayments from the Accounts Payable module for purchases of goods andservices, and for certain types of refunds and advances. These may include thefollowing:• Suppliers of goods and equipment.• Laborers and adjunct faculty who work as independent contractors.• In some cases, employees who receive advances or benefit distributions.You add your vendors to the Colleague database in much the same way as youadd demographic information for prospects, students, employees, and donors.The vendor setup function automatically accesses a number of CoreDemographics forms to allow entry of detailed name, address, and otheridentification information for each vendor you add.The interface with the Core Demographics forms is designed to let you keepextensive historical records on your vendors without the need to duplicateinformation. The features include the following:• Unlimited different addresses for your vendors’ separate branch locations,including address types specifically for purchase orders and checks.• Specially formatted names for different types of communications.• Identification and coding information needed for automatic 1099-MISCprocessing.• Additional name information: for individuals (persons), former name; forcorporations, other names.The vendor definition function itself also provides several options to helpstreamline your data entry and record keeping on vendors, including enteringcodes on a vendor record that will default into all line items you create onpurchasing documents you send to that vendor. The next section describesthese options in greater detail.Using Accounts Payable, June 19, 2009 45© 2009 Datatel, Inc.