When conducting business with a new vendor, employee, or other entity, you will need to create a new payee record to track transactions relating to them.
Payees are shared across books so they will only need to be created one time, even if you have multiple collections of accounts. To maintain data integrity and keep all relevant transactions within a single record, the system doesn't allow payees to share the same name.
To add a new payee,
1. Click on the gear icon to open your Settings view.
2. Scroll down the navigation menu on the left and select “Payees” under the Ledger section.
3. Click on "Add new Payee".
4. Choose whether the payee is an individual or a business.
- If the payee is selected to be an individual, you can use the drop-down menu in the "Connect to" field to select an existing person record. This will automatically populate address and contact information that can only be edited from that person's record. If you choose this option, you can skip down to step 7.
- Payees can only be linked if the user has permissions to see people's unlisted information.
5. Enter the Name, Legal Name (if different), address and contact information as needed.
6. Enter a description, tax ID number, and any notes for the payee as needed. There is a limit of 40 characters in the description box.
7. Click the “Save” button at the bottom of the entry menu.