Why should I set up Vendor Defaults?
Sage 50 allows you to set up default (common) information for vendors. Use this feature as a template or model and build all your vendor records on it. Enter basic setup information that applies to most of your vendors and purchase transactions in the Vendor Defaults window. Then, when you set up new vendors and enter transactions, the default information is automatically included. This can save a great deal of time during data entry.
- To set up or review vendor defaults, select Default Information from the Maintain
menu, and choose
What information is included in Vendor Defaults?
Default information for vendors includes:
- General Ledger accounts for purchases and discounts
- Standard vendor payment terms
- Aging information for invoices
- Custom field labels
- 1099 settings, which establish how 1099 payments will be assigned to each of the General Ledger accounts in a company's chart of accounts
- Payment methods
Most of this information is set up for you during New Company Setup. However, you can change these defaults at any time.
Setting up a new vendor
Once you've entered the default information that governs how Sage 50 treats vendors generally, you're ready to set up individual vendors in Maintain Vendors.