How to add a vendor on NetSuite

Ron Danenberg β€’ 02:24

🚨 Problem: Adding new vendors or suppliers in NetSuite is essential for accurate financial management and procurement processes. This tutorial will guide you through the steps to create a new vendor efficiently.

Steps to Create a New Vendor

  1. Navigate to Vendor Creation:
    • πŸ“‚ Go to: Lists > Relationships > Vendors > New.
  2. Select Subsidiary:
    • 🌐 If using a multi-subsidiary setup, select the appropriate subsidiary for the new vendor (e.g., Honeycomb Holdings).
  3. Fill in Basic Information:
    • 🏒 Company Name: Enter the vendor’s company name.
    • πŸ“ž Additional Information: Add phone numbers, email addresses, and any relevant comments.
  4. Add Key Contacts:
    • πŸ‘€ For each key contact, fill in:
    • βœ… Click “Add” to include each contact.
    • Mandatory Fields: Ensure all fields marked with a red asterisk (*) are filled out.
  5. Track Interactions:
    • πŸ“ž Phone Calls, Tasks, Events, User Notes: Log any interactions with the vendor.
    • πŸ“‚ Additional Files or Documents: Attach any important documents related to the vendor.
  6. Enter Company Details:
    • 🏠 Default Addresses: Input the vendor’s default addresses.
    • πŸ“Š Financial Information: Specify the general ledger account for mapping transactions.
    • πŸ›’ Purchase Order Tolerances: Set tolerances for quantities and amounts, and configure any workflows or automations based on these settings.
  7. Set Bank Payment Details:
    • πŸ’³ EFT Details: Enter bank payment details to enable electronic fund transfers (EFT) for bill payments.
  8. Save the Vendor:
    • πŸ’Ύ Once all information is accurately entered, click “Save” to create the new vendor.

Important Considerations

  • Detailed Entries:
    • πŸ–ŠοΈ Ensure all relevant information is filled in to maintain comprehensive records.
  • Use Correct Fields:
    • πŸ“‹ Use specific fields for contacts, addresses, and financial details to ensure accurate data management.
  • Automations and Workflows:
    • πŸ”„ Utilize NetSuite’s automation and workflow capabilities to streamline processes related to vendor management.

Final Thoughts

Creating a new vendor in NetSuite is a straightforward process that enhances your procurement and financial management. By following these steps, you can ensure all necessary information is accurately recorded and easily accessible.