Vendors are people or companies that you buy things from (Office Depot) or receive services from (It All Adds Up).
QuickBooks lets you set up Vendor Types so that you can categorize your vendors in ways that are meaningful to your business. For example, you could set up your vendor types so that they indicate a vendor’s industry or geographic location. You can also place a vendor type as a subtype of another vendor type. For example, you might create the type “Painters” with the subtypes “Exterior Painter” and “Interior Painter”.
To add Vendor Types in QuickBooks:
- From the “Lists” menu, select “Customer and Vendor Profile List”
- Select “Vendor Type List”
- Click Vendor Type at the bottom of the list to add, edit, or delete vendor types.
You can create reports and do special mailings that are based on your vendor types. For example, if you own a construction company and use subcontractors, you might want to use the ones closest to each job. You could then create a QuickBooks report that shows the subcontractors in each geographic area.