What is Vendor Record in Netsuite?

Vendor:

A vendor means anyone who provides goods or services to a company or individuals.

These records are used to track information of your vendors.

Enter New Vendor record:

Go to Lists > Relationships > Vendors > New

Fields on Vendor record:

1. Custom Form field, accept the default form or select the form you prefer to use to
    create this record.
2. Vendor ID field, enter vendor's name the way it should appear in all lists.
   

If this field is blank, this field fills with the name that is entered in the Company Name field.

If Auto-Generated Numbering is used, this field fills with the vendor number or code.

3. Next to Vendor ID, if the Auto box is checked then one can manually enter a name for
    this record. If this box is not checked, a name or number is assigned for this record, 
   based on the settings at Setup > Set Up Auto-Generated Numbers.
4. Next choose whether vendor is a company or an individual.
5. Company Name field, here enter the legal name of this vendor.

If Auto-Generated Numbering is used then enter the vendor name to ensure that it 
appears along with the code in lists.

6. Web Address field, URL for this vendor's web address.
7. Category field, select the category.

To create new categories, Setup > Accounting > Setup Tasks > Accounting Lists > New.

8. Image field, to select an image.
9. Comments field, to enter any additional notes.
10. Email, enter the email address of vendor. If vendors are given permit for online access, 
    this becomes part of their access code.
11. Phone, enter a phone number for vendor. Can also enter alternate phone number.
12. Fax, enter vendor’s fax number.
13. Address field automatically shows the default billing address that you enter and add
     using the Address subtab.
14. Subsidiary field, select the subsidiary that can share this vendor.
15. Credit Limit field, enter the credit limit for this subsidiary. The default is no value, or
     no credit limit.
16. Tax Code field, select the tax code you want to apply.

Relationships:

1. Contacts subtab, enter information about your contacts with this vendor.

Communication:

1. Phone Calls subtab, view or enter new phone calls for this vendor.
2. Tasks subtab, view or enter CRM tasks records relating to this vendor.
3. Events subtab, enter events for this vendor.
4. Files subtab, you can select and add files from the File Cabinet that are associated
    with this vendor.
5. User Notes subtab, add and track notations about this vendor.

Address:

1. Check the Default Shipping address box if this is the main address to send returned 
   products to the vendor.
2. Check the Default Billing address box if this is the remittance address where payments
    should be sent for this vendor.
3. Enter the Label for this address.
4. Ensure the value for Country is correct.
5. In the Attention field, enter the person at this address who should be notified of receipt 
   of documents or goods.
6. In the Addressee field, enter the company name that should show on the shipping label
    here.
7. Enter a phone number where the person receiving the package or mail can be 
   reached.
8. Enter the vendor’s street address.
9. To enter additional addresses, click Add.

Marketing:

1. Campaigns subtab shows recent campaigns for this vendor.
2. Subscriptions subtab shows subscriptions for this vendor.This vendor is considered
    as subscribed if the box is checked in Subscribed column.
3. Global Subscription Status field, select the status you want to assign this vendor.

Account Information:

1. Legal Name field, enter the legal name for this vendor for financial purposes.
2. Business Number field, enter the 15-digit registration number that identifies this vendor
    as a client of the Canada Customs and Revenue Agency (CCRA)
3. Account field, enter the account name or number for this vendor.
4. Select a Default Expense Account for purchases from this vendor.
5. Default Payables Account field, choose the default payable account for this vendor
    record.
6. Terms field, select the standard discount terms for this vendor's invoices.
7. If Multiple Currencies feature enabled, select the currency.

Tax Information:

1. Tax Reg. Number field, enter the vendor’s VAT registration number.
2. Enter vendor's Tax ID.This number is a Social Security Number (SSN) for an individual.
3. Check the 1099 Eligible box, If more than $600 is paid for this vendor for the
    services this year.

Balance Information:

1. Enter the Opening Balance of this vendor's account.
2. Enter or pick the date of the balance in the Opening Balance field.

Project Information:

1. Check the Project Resource box to enable this vendor to be chosen as a resource
    on tasks and jobs.
2. Select a Work Calendar for this vendor.
3. In the Labor Cost field, enter the cost of labor for this vendor to be able to calculate
    profitability on jobs.

Schedules:

If Quantity Pricing feature (used to apply prices you have negotiated with vendors) is used
 then the Schedules subtab shows pricing schedules for this vendor.

ACH:

If ACH Vendor Payments feature is enabled, then enter bank account information for this
 vendor in ACH subtab.

Transactions:

1. Enter new transactions for this vendor using New Purchase Order or New Bill .
2. Existing transactions for this vendor show in the list.

Items:

1. Click Import Price List to import a price list for this vendor.
2. Items associated with this vendor show in the list.

Preferences:

1. Email Preference field, select the format for email that is sent to this person
    or company. Select Default to use the preference set at Home > Set Preferences.
2. Print on Check As field, enter the vendor name the way it should appear on a check.
3. Send Transactions Via:

1. Email – Check this box to check the To Be Emailed box by default on transactions
    when this vendor is selected.
2. Print – Check this box to check the To Be Printed box by default on transactions 
   when this vendor is selected.
3. Fax – Check this box to check the To Be Faxed box by default on transactions 
   when this vendor is selected.

System Information:

1. Date Created field displays the date this vendor record was entered.
2. If you check the Inactive box, this vendor will no longer appear on a list unless 
   you check the Show Inactives box.

Access:

1. Check the Give Access box to give this vendor access.
2. Check the Send Notification Email box, which sends an email message to 
   the vendor regarding access.
3. Password field, enter a password for the vendor to login with.
4. Retype your password in the Confirm Password field.
5. Check the Require Password Change on Next Login box to require this 
   vendor to change their password on their next login to NetSuite.
6. In the Role column, select a role of vendor.

Time Tracking:

If vendor time tracking permissions is given then, in the Time Approver field, select 
an employee to approve time tracked by this vendor.

If a Time Approver is not selected, any time tracked by this vendor is automatically
 approved until entered against a project with project time approval preferences defined.

Editing a Vendor Record:

Go to Lists > Relationships > Vendors

Click edit next to the name of vendor make changes and then save.

Inactivating a Vendor Record:

Go to Lists > Relationships > Vendors

Click edit next to the name of vendor , check the Inactive box and then save.

Deleting a Vendor Record:

Go to Lists > Relationships > Vendors

Click edit next to the name of vendor - under Actions, click Delete.

Merging Vendor Records:

1. Go to Lists > Relationships > Vendors
2. Click edit next to the name of the vendor , this serves as the source vendor 
   which will be merged into the target vendor record.

    Source vendor will be deleted during merge process.

3. After clicking Merge, select the target vendor.

    Both the source and target vendor records must have the same primary subsidiary
 to merge the records.

4. On the Duplicate Resolution Status page, the merge is queued for process.
   Click Refresh to process the merge or the Cancel link to halt the merge process.
5. Go to Lists > Relationships > Vendors and verify that the source vendor does 
   not appear in the vendor list.

Assigning Roles to Vendors:

1. Go to Setup > Company > Setup Tasks > Enable Features > 
   under Web Presence subtab > Check Vendor Access box > Save.
2. Create Vendor record and give access by checking the Give Access box 
   under Access subtab and also select a role for this vendor.

Associating Vendors with Items:

1. Go to Lists > Accounting > Items
2. Click edit next to an item.
3. On the Purchasing/Inventory subtab, click the Vendors subtab.Here 
   set item price based on subsidiary.
4. In the Preferred Vendor field, select a vendor.
5. Click Save.

Importing a Vendor Price List:

1. Create the import file which contains the following fields in order, with no header row:

1. Item Name
2. Vendor Code.
3. Purchase Price

4. Price Schedule (optional)
5. Currency (if using Multiple Currencies feature)

2. Go to Lists > Relationships > Vendors - click edit next to vendor record.
3. Under Financial subtab, click Items subtab, clcik Import Price List.
4. Import Vendor Price List popup window opens, here browse and navigate 
   to the vendor price list file.
5. Save.

Multiple Venodrs:

For this we need to enable Multiple Vendors feature:

1. Enter Vendor records.
2. Enable feature - [Go to Setup > Company > Setup Tasks > Enable Features 
   > Click the Items & Inventory subtab > Check the Multiple Vendors box > Save].
3. Associate Vendors with items.

Please comment if you have any question regarding this.

Thanks
Abhi