What is Vendor Account?
A vendor is a person or business that supplies goods or services to a company. Another term for vendor is supplier.
In many situations a company presents the vendor with a purchase order stating the goods or services needed the price, delivery date, and other terms. Generally, when the vendor delivers the goods or services it will also send an invoice to the company. The company should then match the vendor's invoice with its purchase order and receiving report. If the three documents are in agreement, the company can than arrange for payment to the vendor.
The individual distribution facilities each bill and collect separately. Therefore, to request materials using a Purchase Order, customers must establish separate vendor accounts with their institution for each facility from which you wish to obtain materials
The party in the supply chain that makes goods and services available to companies or consumers. The term vendor is typically used to describe the entity that is paid for the goods that are provided, rather than the manufacturer of the goods. A vendor, however, can operate both as the supplier of goods (seller) and the manufacturer.
A vendor is a person or a business entity that sells something. Large retail stores generally have a list of vendors from which they purchase goods (at wholesale) to sell (at retail) to their customers. Vendors can also sell directly to the customer, as seen with street vendors. In addition, a vendor can provide parts for another business that will be used to make an end product.
A vendor (pronounced VEHN-door, from French vender, meaning to sell) is any person or company that sells goods or services to someone else in the economic production chain. Parts manufacturers are vendors of parts to other manufacturers that assemble the parts into something sold to wholesalers or retailers. Retailers are vendors of products to consumers. (When you have a street fair, the people who set up booths and tables are often referred to as vendors.) In information technology as well as in other industries, the term is commonly applied to suppliers of goods and services to other companies.
A machine that takes your money and gives you a product is known as a vending machine.