16 Vendors

This topic describes the information about vendors.

During the life of an account, a financial institution might require the use of specialized services of a vendor for various purposes; for example, repossessing a vehicle, retaining an attorney for bankruptcy court proceedings or making field calls. With the system’s Vendors screen, user can:

• Maintain vendor information
• Maintain services offered by the vendor
• Assign tasks to the vendors and subsequently track and process those tasks
• Charge vendor expenses to customers
• Enter and update invoices raised by the vendors
• Post vendor transactions
• Process vendor payments

Once an invoice has been presented for a service performed by a vendor, user can enter information on Vendor Management form and create a monetary transaction. User can then choose if the customer should pay any particular expense or not.

The Vendors screen allows user to set up vendor information. User can also use the copy feature to quickly create new vendors with the existing details. By default it will show current address but if the vendor receives escrow disbursement at an address which is different from current business address the information can be entered in Payment Details sub screen. Also, the Payment Details sub screen allows user to enter number of days prior to the due date by which payment to vendor must be processed.

Navigating to Vendor Detail Screen

1. On the Origination, click Origination. Under Origination, click Vendors.
2. The system displays the Vendor screen.

The details are grouped under the following tabs:

• Vendors Tab
  This topic describes the information about vendors tab.
• Assignment Allocation
  This topic describes the process of assigning and distributing tasks, responsibilities, or resources to users or groups within the system.
• Work Orders Tab
  This topic provides the details of work orders associated with a record, including status, assignments, schedules, and related activities within the system.
• Follow-up Tab
  This topic provides details of follow-up, reminders, and related actions for a record, helping users track pending activities and next steps within the system.
• Invoices Tab
  This topic provides details of invoices associated with a record, including invoice amounts, due dates, status, and related billing information within the system.
• Search Tab
  This topic provides the information about the search functionality used to locate and retrieve records based on specified criteria within the system.