When adding a new vendor, which field should almost always be left blank?

When adding a new vendor, the field for opening balance should almost always be left blank because it typically reflects amounts that are due to the vendor or amounts that the vendor owes. This field is particularly relevant when transitioning from another accounting system where historical balances might be imported. However, for most new vendor setups, there is no historical data related to the opening balance since the vendor relationship is just starting.

Leaving the opening balance field blank helps avoid potential confusion or inaccuracies in financial reporting, especially if there is no pre-existing balance that needs to be accounted for. In contrast, the company name, address, and website address are foundational details that help identify and communicate with the vendor, making them essential for any new vendor entry. Therefore, the opening balance is the field most commonly left blank when establishing a new vendor profile.