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Best VMF practice for vendor changing name and tax ID
June 13, 2024
Q. We have a company that is changing name and tax ID. The vendor is providing the same materials, is not 1099 reportable (corporation), will have same payment address, same invoice naming convention, and will accept all POs under the old name. Would it be best practice to create a new supplier number and recreate all the open POs due to the tax ID change? Or is it acceptable to keep the vendor number and update the tax ID and name? I have concern that changing the supplier ID will allow our…
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