Reassign/merge vendors or create new vendor - Mortgage transferred

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Moderators: Moderators, Tech Support

Post Reply
christybeth
Posts: 72
Joined: Tue Feb 09, 2016 12:35 pm
Location: Washington State
Contact:

Reassign/merge vendors or create new vendor - Mortgage transferred

Post by christybeth »

Our mortgage was transferred to a new foundation and I am wondering if I should create a new vendor or reassign a vendor ID/merge within the Accounts Payable module. What is the best practice as I am sure it has happened to others? Thank you in advance!!

Christy

NeilZ
Posts: 10208
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Reassign/merge vendors or create new vendor - Mortgage transferred

Post by NeilZ »

christybeth wrote:
Mon May 02, 2022 6:50 pm
Our mortgage was transferred to a new foundation and I am wondering if I should create a new vendor or reassign a vendor ID/merge within the Accounts Payable module. What is the best practice as I am sure it has happened to others? Thank you in advance!!

Christy
It all depends on if you want to maintain the existing payment history to the old mortgage holder. I would, so I'd create a new vendor, and mark the old one as inactive.
Neil Zampella

Using PC+ since 1999.

Post Reply