Managing vendors, partners, and other entity types
NetSuite requires that we define a list of vendors to be associated with all the procure-to-pay (P2P) transactions. These are generally your client's suppliers and other businesses they buy products and services from. This list will include the client's sources for the products they sell, their favorite office supply store, and also their accountant, and whoever they pay rent to, and so on. Vendors, like other entity types, can be a company or an individual. Some clients will confuse vendors with customers, so just keep what NetSuite has in mind as you work through this with them, and explain the uses we'll have for this data once it's stored in the system.
For vendors, we need to know things like their names and addresses, and we usually categorize them in some way meaningful to the client, and so on. Here's a sample Vendor screen in NetSuite for reference: