Vendor master: it is a file which contains information regarding the vendor.
Eg: vendor name and address, banking and accounting info, payments terms and conditions, purchasing functions.
Partner functions are the functions or roles that a vendor can perform. This functions can be performed by the vendor or any some other business partner.
Types of vendors:
1. Regular vendor.
2. Fixed vendor.
3. One Time vendor.
4. Service Vendor.
· There are 3 different ways to create vendor.
1. The vendor with company code.
2. The vendor with purchasing organization.
3. Central.
