Using the Buying Details view (Vendor cards only) - Card Information window

The buying information you enter here will be used when entering bills for a vendor. Enter the purchase layout for each vendor and the layout you choose will be displayed when you enter the vendor's name in the purchases window. Similarly, if you make an entry in the Printed Form field, that form will be used when you print the purchase for the vendor. If you choose the service layout, you can assign a default cost of sales or expense account for a vendor. When you enter purchases for this vendor, the account will be entered automatically when you enter line items on the purchase. You can change these automatic vendor entries if you wish.

If the rate you charge for time billing activities depends upon the vendor who performs the activity, you can assign an activity rate to your vendor cards. You can also track the cost of performing activities by entering an estimated cost per hour for your vendors.

You'll use the Vendor Terms Information section to enter credit terms and to indicate how discounts should be calculated for the purchases you enter. If you are required to collect tax on purchases made from a vendor, choose a tax code for the vendor in the Tax Code field. See Assigning credit terms to your customers for more information.

If you're required to collect taxes from the customer, or pay taxes to the vendor, you can specify a tax code for the customer or vendor. When you enter the customer card on a sale or the vendor card on a purchase, the tax code you enter in the Selling Details or Buying Details view will be entered automatically.

If you wish to report payments to vendors for inclusion on a 1099 statement, select how you wish to report the payments by choosing from the list of categories in the Report Payments on 1099 as: field of the Buying Details view of the Card Information window. See Setting up a vendor card to track vendor payments on a 1099 statement

You can set specific credit terms for each vendor using the Customer Terms Information section of this view. See Assigning credit terms to your vendors.