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When to update a vendor record
March 10, 2023
Q. When an existing vendor submits an updated W-9 with a new TIN and/or tax classification should we update their existing vendor record or create a new vendor record? What should be the basis for determining if it's the same entity (which would necessitate a vendor update) vs. a new entity (which would necessitate creating a new vendor record)?
A.
(Answered by Debra Richardson, a third-party Vendor Master File Advisor: https://www.debrarrichardson.com.)
The determination of whether vendor data…
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