The management of Individual Vendors and Entity (Corporate) Vendors has been updated to be handled in two distinct sections. This change is designed to improve organization and clarity. Below is a detailed overview of the significant changes you will notice:
The Vendors menu has been reorganized into two separate sections:
- The section previously known simply as “Vendors” is now renamed and dedicated to “Entity Vendors.” This section focuses exclusively on corporate or organizational vendors.
- A brand new, dedicated section called “Individual Vendors” has been introduced to specifically manage vendors who are individual persons rather than entities.
The dashboard has also been enhanced to display each type of vendor within its own panel. This allows you to quickly and easily view the totals and statuses of both Entity Vendors and Individual Vendors separately, providing a clear snapshot of your vendor landscape at a glance.
When you need to add a new individual vendor, the process has been streamlined. You can register individual vendors directly within the Individual Vendors list. Additionally, you have the option to import these vendors in bulk, using a process similar to how users are imported, which makes managing large numbers of individual vendors more efficient.
For those who prefer bulk importing, a downloadable template is available within Calculus. This template is designed to help you import multiple vendors simultaneously. The formatting requirements for fields such as tax IDs, foreign countries, visas, and dates match those used for user imports, ensuring consistency and ease of use. However, it is important to note that individual vendors have a shorter list of visa options to select from in their questionnaire, reflecting the specific needs of this vendor type.
Once you upload your CSV import file, you will be redirected to the Imports History page. Here, you will need to map the columns from your CSV file to the corresponding fields in the system, following the same process as when importing users. To simplify future imports, you can name and save your column mapping configuration for reuse.
After completing the mapping process, you will proceed to import the mapped data. The system provides three different options to complete the import, giving you flexibility based on your specific requirements.
Once you have either imported or manually registered your individual vendors, they will be listed under Active Vendors within the Individual Vendors section. This makes it easy to keep track of all currently active individual vendors in your system.
Similar to the functionality available for Users and Entity Vendors, you can apply various filters and views to the Individual Vendors list. This allows you to generate customized reports tailored to your specific needs, helping you efficiently manage and analyse your individual vendors.
The financial data is processed using the 1042-S import method, just as it has been previously for all vendors.