Overview
Settle makes it easy to store and manage your vendor information, including crucial tax documents like W-9s and W-8s. This article guides you through the process of adding, updating, and accessing vendor details.
Storing vendor information
To add or edit vendor information:
Go to the Vendors tab.
Search for the vendor by name.
Select the vendor to view their details.
Click Edit to modify existing information or add new details.
You can store the following types of vendor information:
Business name, type, and EIN/TIN
Addresses and contact information (email, phone)
Bank accounts for payment processing
Payment terms and conditions
W-9s and W-8 tax forms
Vendor credits
Important Note about Verified Vendors:
Bank accounts added and verified by the vendor cannot be edited or archived.
Certain business information (e.g., email address) for Verified Vendors cannot be changed on the Edit Vendor screen. To update this information, you must contact Settle Support.
Updating information for verified vendors
To update information for a Verified Vendor:
Email support@settle.co with the vendor's email address cc'ed.
Include the specific changes you would like to make.
In the email, clearly state that the vendor needs to respond to authorize the changes.
Settle Support will update the information after receiving written or verbal confirmation from the vendor.
Managing tax forms (W-9s and W-8s)
For Vendors:
Adding a W-9:
Go to Settings > Account Receivable.
Complete the required information (business name, address, EIN, etc.). This will auto-populate the W-9 form.
Alternatively, upload a completed W-9 form directly.
Adding a W-8:
Go to Settings > Account Receivable.
Upload a completed W-8 form.
Updating a W-9/W-8:
Go to Settings > Account Receivable.
Delete the existing form and re-upload the updated version.
For Payers:
Adding a W-9/W-8 for a Vendor:
Go to the Vendors page and search for the vendor.
Select the Add button.
Choose to upload a file, request the form via email, or share a link for the vendor to upload.
Updating a Vendor's W-9/W-8:
Go to the Vendors page and search for the vendor.
Select the vendor and click Update Form.
Choose to upload a file, request the form via email, or share a link for the vendor to upload.
Important note: To view the W-9/W-8 form of a "verified" vendor, you must have completed at least one payment to that vendor.
Holding payments for missing tax forms
Go to Settings > Accounts Payable.
Enable the Hold Payments toggle to automatically hold payments for vendors without a W-9/W-8 on file.
(Optional) Enable Manual Override to allow admin and payer roles to release held payments.
