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Vendor Invoicing


  • All businesses that extend credit to your business are called vendors. A vendor ledger must be setup to manage the amounts owed to the vendors.
  • The vendor ledgers should be updated when invoices are posted in the General Ledger. In a computerized system, the software will automatically update the Accounts Payable account accordingly.
  • Paying vendors on time and correctly boosts your company’s credit rating, and may help you in obtaining favorable credit terms with your vendors.
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