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William1965
Level 1

Vendor Name and Company Name

I am new to Quickbooks.  I am filling out the vendor information. There is a field for "Vendor Name" and then there is also a field for "Company Name."
What is the difference? Is there some sort of "best practice" as to what information to put in these fields?
Thank you!
Solved
Best answer August 28, 2020

Best Answers
BigRedConsulting
Community Champion

Vendor Name and Company Name

There may not be a difference.  This is just like the customer list.

 

It depends on the vendor and how you work with them.  E.g. for a sole proprietor you might know them by their personal name, but then also want to enter their legal name in the company name field, perhaps for tax reasons to issue a 1099.

 

For example, in my company I use my customer's personal name as the customer name and so the Company name is usually different, and the FML fields are more or less the same as the customer name.

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2 Comments 2
BigRedConsulting
Community Champion

Vendor Name and Company Name

There may not be a difference.  This is just like the customer list.

 

It depends on the vendor and how you work with them.  E.g. for a sole proprietor you might know them by their personal name, but then also want to enter their legal name in the company name field, perhaps for tax reasons to issue a 1099.

 

For example, in my company I use my customer's personal name as the customer name and so the Company name is usually different, and the FML fields are more or less the same as the customer name.

William1965
Level 1

Vendor Name and Company Name

Thank you Big Red Consulting, I will use it in this manner also.

Thank you again and have a great day!!

William

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