In ElevateBooks, a Supplier refers to an entity, whether a person, business, or organization, with whom you currently have or plan to establish an Accounts Payable relationship. Suppliers in ElevateBooks are subaccounts of Accounts Payable, and creating them is essential for various financial transactions and record-keeping.

Key Supplier Functions: Creating a Supplier in ElevateBooks unlocks several functionalities:

1. Purchase Invoice Entry:
   • Corresponding to a received sales invoice.
2. Buying on Credit:
   • Facilitates transactions for which payment is due in the future.
3. Supplier Statement:
   • Shows balances due or summarizes past transactions.
4. Request for Quotation (RFQ):
   • Initiates the procurement process.
5. Purchase Order Generation:
   • Creates a formal order for goods or services.
6. Advance Payments:
   • Enables making deposits or advances against future work or goods delivery.
7. Debit Note Issuance:
   • Records returns of goods to the Supplier.
8. Complete Purchase and Payment History:
   • Tracks the entire history of purchases and payments with a specific entity.

Note:

• Cash purchases involving immediate payment may not necessarily require creating a Supplier.
• Examples include purchases from a merchant, timely payment of utility bills, or credit card payments for business expenses.

Enabling the Suppliers Tab: To unlock the Suppliers tab in ElevateBooks, follow these steps:

1. Click on “Customize” below the left navigation pane.
2. Check the box for “Suppliers.”
3. Click “Update” below the list.

Conclusion: Effectively managing Suppliers in ElevateBooks is crucial for accurate record-keeping and streamlined financial transactions. Enabling the Suppliers tab opens up a range of functionalities that enhance your ability to track, manage, and communicate with entities from whom you make purchases.