How to Set Up Vendors in QuickBooks and TaxDome
Posted On: 25/06/21 - 0

Setting Up QuickBooks 

If you are a small business owner of 10 employees or less, you must have heard a lot about the advantages of hiring a small business accountant. We have on staff qualified and experienced accountants and bookkeepers in our firm who can look after your business’s books  without you having to worry about learning how to do this yourself. Let us handle your financial matters and provide flawless planning and accounting services that will help increase your chances of success in your small business. We use high-end and premium version of accounting tools such as QuickBooks and TaxDome to ensure all the tax- and accounting-related tasks are done accurately. Through these secure and safe digital formats, you can access your information any time from the comforts of your home, business or car. 

QuickBooks is one of the most efficient and easy-to-use software tools that most accounting firms trust and prefer. If you haven’t hired an accountant to look after your business finances and use software like QuickBooks good for you. Many business owners for many different reasons do their own bookkeeping, but are you doing it correctly with your entries? Have you had formal training on QuickBooks?

If you prefer to give Quickbooks a try on your own, let’s take a look at setting up Vendors in QuickBooks. Here’s how you can easily do it within a few clicks.

First, click “vendors/clients” in the left menu bar.

Second, click “new vendor/client”

Go to top right of the screen, and you will be taken to the Vendor/Client Information screen.

Thirdly, enter all your vendor/client information.

•  first and last name
• company name
• name you want to be displayed for the vendor you are setting up
• address
• email, phone, mobile, fax, website
• Hourly or a flat billing rate
• default payment terms
• account number
• Opening balance if you have any outstanding balance that you have with a vendor
• Any additional notes that you’d like to add

Fourthly, review the information to ensure it’s correct

Lastly, click “save or create”

If you have more than ten vendors, you should import vendor information using an Excel or CSV file. Once you have your data in a spreadsheet, navigate to the Vendor Center and click on the arrow to the right of New Vendor. Select Import vendors and follow the on-screen instructions to import your vendors into QuickBooks and TaxDome.

As you can see, it is pretty straight forward to set up Vendors/Clients. But if you think this isn’t something that you’d want to do daily, weekly or monthly, consider hiring the best accounting firm in Edmonton. Let the professionals do their job, and you can focus on your business’s core functions. Call 780-482-7297 and ask for Cheryl.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297

cheryl@padgettnw.com