Hello, my question is regarding a vendor name and company name. I have a driver who is working with me as an independent contractor. He has an LLC and I am going to make payments for his services to his company's bank account. For integration purposes I have to enter that drivers first and last name in QB as a vendor to match my Transportation Management Software. So if I create vendor with is first and last name, make it also his display name, but as a company name I will enter his LLC, is it a right solution in this situation?
Thanks for reaching out to us here, @Agali.
Yes, that's the correct setup. There's not a difference between the two fields, it's just how they appear when you prepare their 1099. QuickBooks uses their legal name or the company name.
Here's an article for your guide: Add a vendor in QuickBooks Online.
Feel free to also browse this link in case you need help managing vendor tasks. It contains our general vendor topics with articles.
I'll be right here if you have other questions or concerns with vendors. Don't hesitate to reply. Take care and have a wonderful day ahead.
Thank you for this respond.
Another question is what if I need to name the same vendor with different names in QB and my Transportation Management Software? How the integration will work? Maybe upon connection I can manually map them once with different names and it will work properly going ahead?
In QuickBooks, every vendor created in Transportation Management Software has to have a corresponding vendor in QuickBooks to flow properly from our system to yours. Quite simply, mapping vendors just refers to how we connect the dots between each vendor created in Transportation Management Software and the matching vendor in QuickBooks.
Though, If possible, create the vendor with the exact same name as was used in Transportation Management Software. If the names match identically, down to the space/period/capital, the systems will do the mapping automatically.
However, to make change the profile, you can manually edit them in the Vendor Information screen in QBO. Please know you'll have to input the information one at a time.
This guide provides more insights about modifying customers and vendors lists: How to edit, delete, and restore list elements.
Please let me know if you have any other questions about updating vendor information in QBO. I'm always here to help you. Have a good day ahead!
Otherwise I can create a vendor in QBO with display name as in TMS (Transportation Management System) but in “Company” field write his LLC’s name. This way integration of QBO with TMS will work properly. In the meantime for the tax purposes it will mean that I am paying a company, not an individual. Then while preparing 1099 will chose him as a business and enter Federal EIN.