Vendor Management
Last updated May 10, 2024
Introduction:
Effective vendor management is crucial for streamlining payments and maintaining efficient data management. In Brex, managing vendors ensures that invoices are paid promptly, with accurate data for compliance. Here's how to add, update, and manage vendors in your Brex account.
Steps for Vendor Management:
- Access Vendor Settings:
- Log in to your Brex account and navigate to the dashboard.
- Click on "Settings" or "Admin" to locate the "Vendors" section.
- Add New Vendors:
- Click the "Add Vendor" or "New Vendor" button to start creating a new profile.
- Enter essential details like the vendor's name, contact information, and payment method preferences.
- Update Vendor Details:
- If a vendor’s information changes (e.g., new bank account, address), search for the vendor's profile in the list.
- Select the vendor and click "Edit" to update details like contact information or payment preferences.
- Organize Vendors:
- Use tags or categories to group vendors by types (e.g., recurring services, one-time purchases) for easier access.
- Apply filters to quickly identify preferred vendors for specific expense categories.
- Monitor Vendor Transactions:
- Review recent transactions linked to each vendor to identify patterns or discrepancies.
- Download vendor-specific transaction histories for compliance or reporting purposes.
- Set Vendor Payment Rules:
- Create payment rules to automate invoice payments based on vendor agreements.
- Configure alerts to monitor upcoming payments, due dates, or transaction limits.
These steps help you establish a consistent and organized approach to managing your vendors while simplifying data tracking and reporting.
Was this article helpful?