Getting Started - Setup Companies (Customers & Vendors)

Getting Started - Setup Companies (Customers & Vendors)

Overview

Companies (formerly Customer/Vendor Central) is the place for everything you need when working with Customers and Vendors. CustomBooks™ Companies module brings together the relationship you have with customers and vendors in one easily managed page.



Here are a few things you can do here:
  1. Instantly tell whether a company is a Customer, a Vendor or both (C/V) by the indicator column next to the name.
  2. See the current balance, payment terms, price level and any custom fields you have created.
  3. View every invoice, order, payment or receipt in the right panel for each company.
  4. Create a new company and generate sales orders, invoices, payments or receipts, and time tracking entries by clicking the Create button on the yellow command bar.
  5. Export the lists to Excel, PDF, Word. or Simple Text document.
  6. Enable/Disable companies.
  7. Create Customer Statements.



Customer/Vendor

Most Accounting applications treat Customers and Vendors like they were from alternate universes. But what happens when that vendor becomes a customer?

CustomBooks™ allows your customers to be vendors and your vendors to be customers. One business contact that can handle both roles.



Creating a New Company




Creating a new company in CustomBooks™ is a straightforward process that allows you to efficiently manage your customers and vendors. By following these simple steps, you can set up your company profile and start recording transactions seamlessly.

  1. Go to Lists > Companies.
  2. Click Create > New.
  3. Check the Customer or Vendor checkbox or both. At least one is required.
  4. Enter the Company Name.
  5. Click on the Financial Tab and enter default Terms, defaults Sales account (customer), default Expense account (vendor), default Accounts Receivable account (customer), default Accounts Payable account (vendor), default Price Level, and default Salesperson. (Optional)


  6. Go to the Payment Methods Tab to add or register a Customer's card or ACH debit bank account in Stripe or Paya. Visit these knowledge base article links to know more about Stripe and Paya payment integrations.


  7. If the company is a 1099 Vendor, click on the 1099 Tab > check the 1099 Vendor checkbox, enter the vendor's full name and the Federal Tax ID (EIN for Employer Identification Number or SSN for Social Security Number)

  8. Click on the Notes Tab to add notes about the customer/vendor or add a website.


  9. Click the Save button. Go to Addresses / Contacts Tab > click Create button to create new address / contact ID.
  10. On the Create New Address/Contact ID window, enter the Address/Contact ID, Email Address, Remit To (Name), Sales Tax Rate, Address Line 1, Address Line 2, Address Line 3, City, Region/State, ZIP Code, and Country in the Address Tab. (Optional)


    Enter the     First, Middle and Last Name, Suffix, Salutation, Phone Number, Cell Number, Fax Number, Job Title, Salesperson, and Notes in the Contact Tab. (Optional)


  11. Click Save/Save the Close to save the Address/Contract ID.
  12. Then click Save/Save and Close again to save the Company.

Make a Company Inactive/Disable

In CustomBooks™, you may find the need to disable or make a company inactive—whether it’s a customer or a vendor—without deleting their historical transactions. This ensures that all previous transactions remain intact for reference and reporting purposes, while preventing any new transactions from being recorded for that company. Here's a step-by-step guide on how to disable a company:
  1. Go to Lists > Companies.
  2. Select or highlight the company to disable.
  3. Right click, choose Edit > then select Make Inactive or Make Active (to reactive). If a company is inactive/disabled, the company name will be shown in strike-through text.


  1. You may highlight multiple companies to batch inactivate/activate.
  2. Inactive companies may be hidden from the list. Click the Hide Inactive Companies button in the bottom-left corner of the Companies List to hide inactive companies.