Adding vendors and entering beginning vendor balances

Buildium helps you track how much you owe each of the individuals or companies you do business with. Start by adding your vendors to the system along with any unpaid bills.

1. Click Accounting.
2. Click Vendors.
3. Click Add Vendor.

   

4. Enter information about the vendor:
   • Name: Enter the name of the vendor
   • Taxpayer ID: Enter the vendor's taxpayer ID. If the vendor is a person, enter the person's social security number. You'll need to enter a valid taxpayer ID in order to generate a 1099-MISC form for the vendor.
   • Eligible for 1099: Check this option if you plan to generate a 1099- MISC form for the vendor at the end of the year.
   • Expense Account: Select the expense account you use for this vendor. For example, if you have a handiman that does general repairs, you might select an expense account called Repairs. Buildium automatically defaults to this expense account when you record a check or add a bill from this vendor.
5. Click Save.

Buildium Tip: You should add your management company as a vendor if you plan to charge rental owners a management fee for your sevices.

Entering unpaid bills

1. Click Accounting.
2. Click Bills.
3. Click Record Bill.

   

4. Enter information about the bill:
   • Property: Assign the bill to one or more properties by selecting the appropriate properties.
   • Account: Indicate what the bill is for by selecting the proper accounts. For example, if the bill was for general repairs, select Repairs.
   • Amount: Allocate the amount across the specified properties.
5. Click Save.