Vendor List Template: Free Template for Tracking Suppliers

By Nicole Hullihen, former SaaS Chief Operating Officer and Microsoft MVP · Updated October 24, 2026

Who do you call when the walk-in cooler breaks? What's the account number with your linen service? When does the cleaning contract renew? In many small businesses, the answers live in one person's head, phone or inbox, which is a real problem when that person is on vacation or leaves.

A vendor list puts every supplier and service provider in one place. This guide includes a free vendor list template, explains what to track, how to collect tax forms, how to review vendors and how to build an approved vendor list.

Note: This is general information, not tax or legal advice. Talk with your accountant about tax reporting for vendor payments.

What Is a Vendor List?

A vendor list, sometimes called a supplier list or vendor database, is a record of every outside company your business buys from: product suppliers, service providers, contractors, utilities and software subscriptions.

Free Vendor List Template

Use a spreadsheet or your purchasing system. Add columns for website, ordering method or minimum order if they matter for your business.

What to Track for Each Vendor

Collecting Form W-9

The IRS says Form W-9 is used to provide a correct taxpayer identification number to payers required to file information returns with the IRS. Many businesses ask every new vendor for a W-9 before the first payment, especially contractors and service providers, so they have the information they need if they must file Form 1099-NEC, which the IRS says is used to report nonemployee compensation.

Reporting rules and thresholds change, and not every vendor payment is reportable. Ask your accountant which vendors need 1099s, and keep W-9s secure since they contain tax ID numbers. See W-2 vs 1099 employee checklist.

Contractors Working On Site

For contractors who work at your location, such as electricians, plumbers or cleaning crews, many businesses also track:

• Certificate of insurance and expiration date.
• Trade license numbers where required.
• Who at the company can approve their work.
• Access they've been given, such as keys or codes. See the key control log.

Ask your insurance agent what insurance you should require from contractors.

Approved Vendor List

An approved vendor list is a short list of suppliers employees are allowed to buy from. It helps control spending, keeps quality consistent and makes reordering faster.

1. List current vendors by category.
2. Pick a preferred vendor and a backup for each category.
3. Set rules: who can order, spending limits and when approval is needed.
4. Share the list with anyone who orders.
5. Review it at least yearly.

See purchasing requisition and approval.

Rating and Reviewing Vendors

A simple 1 to 5 rating for each factor, reviewed once or twice a year, shows which vendors deserve more business. See what is a vendor scorecard.

Backup Vendors

A single supplier for something critical is a risk. If your only produce supplier has a truck break down, or your only HVAC company is booked for a week in a heat wave, you need a backup. For each critical category, list at least one backup vendor and keep their contact information current. Place a small order now and then so the account stays active.

Keeping Vendor Information Secure

• Store W-9s, bank details and contracts in a secure location with limited access.
• Verify any request to change a vendor's bank details by calling a known phone number, not one in the email.
• Remove access for vendors you no longer use.
• Keep a single master list instead of copies in several places.

Fake "change my bank account" emails are a common fraud. A quick verification call can prevent a costly mistake.

Example: A Small Restaurant Group

An owner with two restaurants found that each location used different suppliers for the same items, at different prices, and nobody knew when the linen contract renewed. She built one vendor list with preferred and backup suppliers, contract dates and payment terms. Consolidating orders with preferred vendors lowered costs, and a calendar reminder caught the linen renewal in time to renegotiate.

Common Vendor List Mistakes

• Vendor info scattered across inboxes and phones.
• No backup vendors for critical supplies.
• Missing W-9s at year-end.
• Missed contract renewals.
• Expired contractor insurance nobody noticed.
• Changing bank details based on an email alone.

Vendor List Checklist

Vendor Categories to Include

Utilities and software subscriptions are easy to forget but often add up to a large share of monthly spending. Putting them on the list also makes it easier to spot subscriptions nobody uses anymore.

New Vendor Setup Form

Use a standard form whenever you add a vendor so the list stays complete.

New Vendor Approval Steps

1. Confirm the need: is an existing vendor able to supply this?
2. Get quotes from more than one vendor for larger purchases.
3. Check references or reviews.
4. Collect paperwork: W-9, insurance and contracts as needed.
5. Get approval from the owner or the person who controls purchasing.
6. Add the vendor to the vendor list and your accounting system.

A simple approval step stops employees from setting up vendors on their own and makes fake vendor fraud harder.

Contract and Renewal Calendar

Many service agreements renew automatically. A renewal calendar gives you time to compare prices or cancel.

Set the reminder before the notice deadline, not on the contract end date. Read each contract to find its notice requirement.

Tracking Vendor Spending

Add a column for yearly spending with each vendor. Your accounting system can usually produce a report of payments by vendor. Spending totals help you:

• See which vendors get the most business.
• Negotiate volume discounts with your biggest suppliers.
• Find duplicate vendors supplying the same thing.
• Spot spending that grew without anyone noticing.
• Plan next year's budget.

Negotiating With Vendors

• Use your spending history to ask for better pricing or terms.
• Ask about discounts for paying early or ordering in larger quantities.
• Get competing quotes before renewal.
• Ask for price protection for a set period.
• Keep notes of what was agreed in the vendor record.

Ending a Vendor Relationship

1. Check the contract for notice requirements and cancellation terms.
2. Give written notice.
3. Pay final invoices and confirm the account is closed.
4. Get back any keys, codes, equipment or data the vendor has.
5. Remove system access and update the vendor list.

If the vendor had keys or access, update your key control log.

Vendor List for Multiple Locations

Businesses with several locations benefit from one master vendor list with a column for which locations use each vendor. That makes it easy to standardize suppliers, compare pricing between locations and give each manager the contacts they need without separate lists drifting apart.

Year-End Vendor Review

Vendor Contact Sheet for Emergencies

Keep a short emergency contact sheet with the vendors you'd need in a hurry, posted in the office or saved on managers' phones.

Check that the after-hours numbers actually work. Many vendors have different numbers for emergencies.

Who Can Change the Vendor List?

Limit who can add vendors or change payment details. Many small businesses let any manager suggest a vendor but only the owner or bookkeeper add it to the accounting system. Separating who approves vendors from who pays them is a simple control against fraud.

Keeping the List Current

• Update contacts whenever a rep changes.
• Add notes after every problem or great experience.
• Mark vendors inactive instead of deleting them, so history stays available.
• Review the full list at least once a year.

Vendor Notes That Save Time

A notes column is one of the most useful parts of a vendor list. Record things like ordering cutoff times, delivery days, minimum orders, the name of a helpful rep, gate codes the vendor needs and past problems. When a new manager takes over ordering, those notes make the handoff much easier.

Sample Completed Vendor Entry

An entry this complete lets anyone on the team place an order or solve a problem without hunting for information.

Vendor Information for Your Bookkeeper

Your bookkeeper or accountant usually needs each vendor's legal name, address, tax form status and payment history. Keeping that information current in your vendor list makes month-end and year-end work faster and reduces back-and-forth emails.

Spreadsheet Tips for a Vendor List

• Freeze the header row so column names stay visible.
• Use filters to sort by category, location or contract end date.
• Use a drop-down for category and status (active or inactive).
• Add conditional formatting to highlight contracts ending in the next 60 days.
• Limit edit access to the people who manage vendors.
• Keep W-9s and contracts in a secure folder and link to them instead of pasting details.

For more spreadsheet tips, see essential Google Sheets formulas.

Vendor List Quick Tips

• Add every new vendor through the setup form.
• Keep one master list.
• Name a backup for every critical category.
• Set renewal reminders before notice deadlines.
• Verify bank changes by phone.

Vendor Risk: Questions to Ask

• If this vendor stopped delivering tomorrow, how long could we operate?
• Do we have a backup we've actually ordered from?
• Does this vendor have keys, codes or access to our systems or data?
• Is the contract up to date, and do we know the cancellation terms?
• Are their insurance and licenses current, if they work on site?
• Is a large share of our spending concentrated with one supplier?

Answering these questions once a year for your top vendors helps you spot weak points before they cause trouble. Write the answers in the vendor record so the next review is faster.

Manage Vendors and Purchasing With Updoot

Updoot's purchasing keeps vendors, purchase orders and approvals in one place, so ordering follows your approved vendor list. SOP management documents your ordering and vendor setup process.

Sources

• IRS: About Form W-9
• IRS: About Form 1099-NEC

Frequently Asked Questions