Principals (Suppliers)

Principals (Suppliers) are companies that your company sells for (these companies can be manufacturers and/or distributors) either in a Broker relationship or as a Distributor. The Broker version of the program will only show the Broker Principals tab.

This table is similar to others in the program. Information on the table layout can be found here. Additional information of Searching can be found here.

Principal (Supplier) Entry

Principal Tab

	Principal Company Information
	This is the typical recorded for a company.

Related Company, Vendor Type and Salesperson

All Principals or Suppliers that pay a brokerage must also be linked to your broker company. Since Naviteer is a Multi-Company application, you can link Principals to different companies you are operating. See Multi-Company for more information.

A Vendor Type can be linked to the Principal. Most of the time, a Principal will be vendor type - Product since, that is normally what you are selling. Additional vendor types can be added as needed.

A salesperson can be added to the principal record for reporting. Most companies may not assign a principal to a specific salesperson.

Principal Customer

All Principals and Suppliers that pay a brokerage to your company have to be entered as a customer. As a customer they are listed in the accounts payable for all commissions owed to your linked company. You can view this customer entry with the button. The customer record related to the principal is automatically created when the Principal is created and saved. The Principal as Customer can also be viewed from the main browse table.

Accounting Tab

Payment Terms: This incoterm applies to all sales from the Principal. It is transferred over to the order as a starting term of sale.

Credit Limit: This is an amount allowed open for all sales. For Broker Version this field is not required.

Fed ID Number: The Fed Tax ID number assigned to a domestic supplier.

FDA Reg Number: All suppliers must be registered with the U.S. Food and Drug Administration. FDA Registration Website

Default Warehouse: If your company is brokering for a supplier and warehousing for them as well you can indicate a default warehouse.

Ship Date Multiplier: Used to calculate arrival dates and costs when shipments are arriving.

*Bank Fee: Not used in Broker Version. This is available for the Distributor version of the program.

Fiscal Start Month: Fiscal Start month for accounting.

Broker Sales Percent: This is default percentage used in selling all products from this Principal. A sales percent can also be applied at the product and customer product levels.

% Loss (Spoils): This is a discount field that is carried over to the order for all orders from the selected Principal. Some suppliers (and customers) require a percent loss to be calculated into the sale of the product. This reduces the overall sale value. A sales discount can also be applied at the product and customer product levels.

Supply 1099: If the supplier is providing a serve this selection can be used to calculate services purchased during the year for year-end reporting.

*Distributor Only Fields

Default A/P Invoice Distribution Account: A specific Account Payable Account can be assigned to the principal for accounting. If this account is not added the system defaults to the default setup accounts here.

Default Principal for Vendor Product Posting: When posting product to inventory several principals can be grouped together as the same consignee.

Notes

See information on Note fields here.

Attachments Tab

See information on attachments here.