Managing Vendors

Vendors in Fiskl represent the companies or individuals from whom you purchase goods or services. They are exclusively used in expense tracking and accounting transactions. Understanding how to manage vendors efficiently can help streamline your expense reporting and financial record-keeping.

example

When you pay a utility bill, the vendor is the utility company. For every future utility bill from this company, you will select the same vendor.

Creating Vendors

You can create vendors in several ways:

1. When recording an expense
2. When creating an accounting transaction
3. Directly from the Vendors list

Creating a Vendor while Recording an Expense

The primary field in the expense is the vendor. Here you either select an existing vendor or create a new one.

Creating a Vendor while recording an Account Transaction

When you record an account transaction expense you will select or create a new vendor.

Creating a Vendor from the Vendors List

1. From the left menu, go to "Clients & Vendors"
2. Select the "Vendors" tab
3. Click "New Vendor"
4. Enter the vendor name
5. (Optional) Add additional details like contact information or notes
6. Click "Save"

Managing Vendors

The Vendors list provides an overview of all your vendors. From here, you can:

• View all vendors
• Edit vendor details
• Archive inactive vendors

note

Vendors with expenses or accounting transactions will be archived, allowing for reinstatement at any time. If there are no associated transactions, the vendor will be permanently deleted. This follows our standard archiving logic.

Best Practices for Vendor Management

• Use consistent naming conventions for vendors to avoid duplicates
• Create vendors as you encounter them in your business operations
• Review your vendor list periodically to ensure accuracy
• Use the notes field to add important information about the vendor or your relationship

Remember: Effective vendor management in Fiskl contributes to accurate expense tracking and smoother accounting processes.