In Axanta, you can add vendors that you deal with in your business. For creating purchase transaction like bills or purchase orders, you will have to add vendors in your organization.
Note: a customer can also be a vendor at the same time. You need not to create two different records one for Customer and other for Vendor.
Toggle button to Archive a vendor which is no more usable. Once a vendor is archived then it will be no be available for further transactions however, the transactions made previously will be as is and won't be deleted.