What is vendor group in SAP SBO - SAP Business One?

SAP Term: vendor group

• Component: SBO

• Component Name: SAP Business One

• Description: A collective name for vendors that have similar characteristics or a unifying relationship that combines them into one group.

Smart SAP Assistant

• Key Concepts: 
  A vendor group is a feature in SAP Business One (SBO) that allows users to group vendors together for easier management. This feature allows users to assign a single payment term, payment method, and other settings to multiple vendors at once. It also allows users to assign a single contact person for all vendors in the group. 
  
  How to use it: 
  To create a vendor group, go to the Administration menu and select “Vendor Groups”. Then, click “New” and enter the name of the group. Once the group is created, you can add vendors to it by selecting them from the list of available vendors. You can also assign a payment term, payment method, and other settings to the group. 
  
  Tips & Tricks: 
  When creating a vendor group, it is important to assign a single contact person for all vendors in the group. This will make it easier to communicate with all vendors in the group at once. Additionally, it is important to assign a single payment term and payment method for all vendors in the group. This will ensure that all vendors are paid on time and with the same terms. 
  
  Related Information: 
  For more information on vendor groups in SAP Business One (SBO), please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_BUSINESS_ONE/9.3/en-US/f8d7f2b6a7c14e8a9f3d2b5f1e4d7c2a.html