In Sage 300 ERP, Vendor Classes are an essential feature that allows businesses to group vendors according to their needs. Vendor Classes are user-defined groupings of vendors that can be used to separate vendors by the type of goods purchased, or to distinguish different divisions of a business.

New Stuff :- Maintain Vendor Addresses in Sage 500

Vendor Class Maintenance provides the user with two pages where they can set up vendor default information, set up GL Posting Accounts, and look at historical information by Vendor Class. This feature is extremely useful as almost all of the Accounts Payable inquiries and reports have sorting and selection options by Vendor Class.

Each vendor is assigned a default Vendor Class, but Vendor Classes may be changed at the document level to provide optimum flexibility for GL Postings. This means that classes may also determine General Ledger override accounts. This feature is more useful for Income Statement accounts where the user might want to post expenses by class (division, market, region, etc.).

Businesses can set up several vendor classes or group all vendors into one vendor class, depending on their requirements. By using Vendor Classes, businesses can streamline their vendor management processes and better manage their finances by tracking expenses by class.

Overall, Vendor Classes are an essential feature for businesses using Sage 500 ERP. By grouping vendors based on their requirements, businesses can more effectively track expenses, improve reporting, and better manage their finances.

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The GUMU™ Cloud framework by Greytrix forms the backbone of cloud integrations that are managed in real-time for processing and execution of application programs at the click of a button.

For more details on Sage 100 Services, please contact us at sage@greytrix.com. We will like to hear from you.