What are the new Organization and Individual options on a vendor record?

With the update of Patch 9 for The Financial Edge 7.87, a change has occurred on the Vendor Record.  The option to choose if a vendor is an organization or individual on the vendor record has been added.
This option is to ensure the proper formatting is passed along to Aatrix when processing 1099s.

The options will create the following formatting inside of Aatrix:
Org: XX-XXXXXXX
Individual: XXX-XX-XXXX

This option can be updated manually by choosing the Org. or Individual radio button on the Vendor record.  

Vendor Type

This can also be updated through a very simple import.  We have provided a sample import file attached to this Knowledgebase article for your convenience.  The sample import file also includes easy to follow instructions.

Note: For the import, you must use either 1 or 2 for the vendor type.  1 means Org. and 2 means Individual.

Note: This field is not available in Query but is available in a Vendor Export through the Export section.
 
Vendor Type Import.xlsx

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