An approved vendor list template is a spreadsheet of the suppliers your organisation has vetted and cleared to buy from. It records what each vendor is approved to supply, its risk tier and its next review date, so buyers know who they can use.
It is the short list of suppliers that have passed your checks and may be used without fresh vetting. Each row shows the vendor, what it is cleared to provide, who signed off, its risk tier and when the approval must be renewed.
Procurement owns it, but buyers, AP and IT all read it. A requester checks it before raising a purchase, AP checks it before paying a new supplier, and auditors use it to confirm that spend went to vetted vendors.
Some teams call it an approved supplier list, others an AVL or ASL. A preferred vendor list is a narrower version: within each category it names the one or two approved vendors you want people to use first, usually because a contract or volume price is in place.
Vendor ID, legal name and category, so the same supplier never appears twice under two names.
Exactly what the vendor may supply, since approval for printing does not cover IT services.
Status, approver, approval date and any conditions attached to the approval.
Low, medium or high risk, plus expiry dates for insurance, certificates and security reports.
Review cycle and next review date, with a flag that turns red when a review is overdue.
Ready to use in Excel and Google Sheets. Fill it in, save it, reuse it.
A budget owner asks to use a new vendor and explains why no approved vendor fits.
Procurement collects tax, bank, insurance and security details, scaled to the risk tier.
The named approver signs off and sets the scope and any conditions.
Buyers raise purchases with listed vendors only. Off-list purchases go back to step one.
Each approval is renewed on a set cycle, or suspended if performance or risk changes.
Start with six columns: Vendor, Category, Approved for, Status, Approved by, Next review. Add risk tiers and document expiry dates once the list is in use.
This tab is the list buyers and AP check before they spend. Keep one row per vendor and one vendor ID per legal entity, and record scope in plain words so a requester can tell at a glance whether their purchase is covered.
| Vendor | Category | Approved for | Status | Risk tier | Next review |
|---|---|---|---|---|---|
| Brightline Software | Software | CRM licences and support | Approved | Medium | 14 Mar 2027 |
| Northwind Logistics | Freight | UK and EU parcel delivery | Conditional | Low | 30 Nov 2026 |
| Kestrel Data | Software | Data warehouse, customer data | Approved | High | 15 Jan 2027 |
| Acme Office Supply | Office | Stationery and furniture | Review overdue | Low | 02 Sep 2026 |
| Harbour Facilities | Facilities | Cleaning and maintenance | Approved | Medium | 20 Jun 2027 |
Illustrative data, not real vendors. Review dates as at 7 Oct 2026.
Works in Excel and Google Sheets. Headers in row 1, data from row 2, formulas copied down.
| Col | Header | Entry or formula | What it does |
|---|---|---|---|
| A | Vendor ID | Text, e.g. V-0142 | One ID per legal entity |
| B | Vendor name | Text | Legal name as on invoices |
| C | Category | Drop-down: Software, Freight, Office, Facilities | Groups vendors for the summary |
| D | Approved for | Text | Scope the approval covers |
| E | Status | Drop-down: Approved, Conditional, Suspended, Removed | Only Approved and Conditional may be used |
| F | Risk tier | Drop-down: Low, Medium, High | Sets the review cycle and checks |
| G | Approved by | Text | Name of the person who signed off |
| H | Approval date | Date | Date of the latest approval |
| I | Review cycle (months) | =IF(F2='High', | Months between reviews |
| J | Next review | =EDATE(H2, | Date the approval runs out |
| K | Review status | =IF(OR(E2='Suspended', | Flags reviews to book |
| L | Insurance expiry | Date | Certificate of insurance end date |
| M | Documents | =IF(L2='', | Chase anything not Valid |
| N | Contract end | Date | Blank if no contract |
| O | Days to contract end | =IF(N2='', | Plan renewals before notice dates |
Put these on a summary tab. The last one lets anyone check a vendor before raising a purchase.
| View | Formula |
|---|---|
| Approved vendors | =COUNTIF(E:E, |
| Conditional approvals | =COUNTIF(E:E, |
| Reviews overdue | =COUNTIF(K:K, |
| High-risk vendors in use | =COUNTIFS(E:E, |
| Approved software vendors | =COUNTIFS(C:C, |
| Is this vendor approved? | =IFERROR(INDEX(E:E, |
Write the criteria down before you approve anyone, so each decision can be explained later. A stationery supplier and a vendor holding customer data should not face the same checks. Tie the depth of review to the tier, and keep the evidence on file with the approval.
| Criterion | What to check | Evidence to keep |
|---|---|---|
| Legal and tax | Registered legal entity, tax ID, no sanctions match | Tax form, company registration |
| Financial stability | Trading history, credit check for large or long contracts | Credit report or accounts |
| Insurance | Liability cover appropriate to the work | Certificate with expiry date |
| Security and data | How the vendor stores and protects your data | Security questionnaire, audit report |
| Quality and delivery | References, samples or a trial order | Reference notes, trial results |
| Commercial terms | Price, payment terms and contract in place | Signed contract or quote |
The tier sets which checks apply and how often the approval is renewed. The review cycle formula in the list reads it.
| Tier | Typical vendor | Checks required | Review cycle |
|---|---|---|---|
| Low | Office supplies, one-off services, no data access | Legal, tax and insurance | Every 3 years |
| Medium | Ongoing services, software without sensitive data | Low checks plus references and contract | Every 2 years |
| High | Holds customer or employee data, critical to operations | All six criteria, plus security review | Every year |
Typical practice. Set your own cycles and record them in the approval policy.
For high-tier vendors, the security and data check is the part that takes longest. A structured third-party risk management process keeps those reviews consistent across teams.
Every preferred vendor must already be approved, but not every approved vendor is preferred. Pick preferred vendors where you have a contract, a volume discount or a proven service record, and say why in the sheet so requesters accept the choice.
| Category | Preferred vendor | Backup vendor | Why preferred | Contract end |
|---|---|---|---|---|
| CRM software | Brightline Software | None approved | Enterprise agreement, fixed price per seat | 31 Mar 2027 |
| Parcel delivery | Northwind Logistics | Orbit Couriers | Volume rate card, next-day UK cover | 30 Nov 2026 |
| Office supplies | Acme Office Supply | Lumen Retail | Catalogue prices, free delivery over 150.00 | None |
| Facilities | Harbour Facilities | Cedar Services | Covers all three sites under one contract | 20 Jun 2027 |
Illustrative data. Backup vendors must also be on the approved vendor list.
The approved supplier list follows the same idea as the vendor list but adds quality evidence. Record each part or material separately, because a supplier can be approved for one item and still be on trial for another.
| Supplier | Part or material | Certification | Last audit | Audit score | Status |
|---|---|---|---|---|---|
| Cedar Components | Machined brackets | ISO 9001 | 12 May 2026 | 92 | Approved |
| Cedar Components | Plastic housings | ISO 9001 | 12 May 2026 | 71 | Trial |
| Orbit Packaging | Shipping cartons | None | 03 Feb 2026 | 84 | Approved |
| Lumen Metals | Sheet steel | ISO 9001 | 18 Nov 2025 | 58 | Suspended |
Illustrative data. Audit score out of 100 from your own supplier audit checklist.
For example, 80 to approve, 65 to 79 for trial status, below 65 suspended.
Note each failed audit item, the fix agreed and the date it is due.
Feed delivery and defect data back in so the next audit starts with evidence.
Lists go stale when vendors are added in a hurry and never removed. Run the checklist each time the list changes, and hold a full review once a year. Remove vendors you have not used in 18 months so the list stays short.
| Date | Vendor | Change | Reason | Approved by |
|---|---|---|---|---|
| 04 Sep 2026 | Northwind Logistics | Approved to Conditional | Insurance renewal pending | R. Patel |
| 11 Sep 2026 | Kestrel Data | Added, High tier | New data warehouse, security review passed | J. Moreno |
| 22 Sep 2026 | Lumen Metals | Approved to Suspended | Audit score 58, corrective plan agreed | A. Okafor |
Illustrative change log. Read more on the supplier onboarding process.
Spendflo supplier onboarding and TPRM vet each new vendor before it joins your approved list.
See supplier onboardingPassed all checks for its tier and may be used within its approved scope.
May be used, but one item such as insurance or a contract is still outstanding.
The approved vendor buyers should use first in its category.
The only vendor able to supply an item, so approval records why no alternative exists.
Paused after a failed review or incident. No new orders until it is resolved.
No longer approved. Kept on the list with the reason, for audit history.
Record what the vendor may supply, so approval for one service is not stretched to cover another.
Give data-handling and critical vendors a full review and low-risk vendors a light one.
An approval with no review date never gets reviewed.
Buyers and AP should check the same list, not copies saved months ago.
Mark them inactive in the payment system the same day they leave the list.
Approving a vendor because an invoice has already arrived defeats the point of the list.
Two rows for one supplier split spend and hide risk, so search by tax ID first.
An expired insurance certificate on a high-risk vendor is a gap auditors will find.
Five preferred vendors in one category is the same as none.
Pull the vendor master and 12 months of spend from your accounting system and paste it in.
Vendors with no spend in 18 months go to Removed, which often shortens the list by a third or more.
Assign a risk tier, collect missing documents and record an approver for each active vendor.
Tell requesters and AP that new purchases need a listed vendor or a new vendor request.
Marketing asks to use Kestrel Data for a customer data warehouse at an illustrative 48,000.00 a year. Because it will hold customer data, procurement sets it as High tier, runs a security questionnaire and checks insurance. The CFO approves it for data warehousing only on 11 Sep 2026, so the review formula sets the next review for 11 Sep 2027.
Every part on this page, in Excel and Google Sheets, with the examples filled in.
Use the approved list and preferred tab only. One person can own it, with the finance lead approving new vendors.
Add the supplier audit view, record each part separately and link audit scores to corrective actions.
Weight the list towards security and data checks, and track contract end dates so renewals are reviewed before they roll over.
Best for one owner and audit snapshots.
Best for a list everyone checks before buying.
One tab, 15 columns, no sample rows.
Spendflo has handled 15,000+ agreements, at 30% average savings on software spend.
See your savingsA good approved vendor list tells buyers who they may use, proves each vendor was vetted and flags approvals that have run out. When new vendor requests arrive faster than one person can review them, the fix is a proper intake and onboarding flow.
Quick answers to what people ask most about the approved vendor list template.
List the vendors you already pay, remove inactive ones, then approve each active vendor against written criteria scaled to its risk. Record scope, approver and a review date for every row. Download the template above to start with the columns and formulas already set up.
It is the list of suppliers your organisation has checked and cleared to buy from, with what each may supply and when the approval ends. Buyers and AP use it to keep spend with vetted vendors. You can download a ready-made version from this page in Excel or Google Sheets.
Put headers in row 1 for vendor ID, name, category, scope, status, risk tier, approval date and next review, then add the EDATE and IF formulas shown above. Turn the range into a table so new rows copy the formulas. Or download the free Excel template and paste your vendors in.
At minimum the vendor's legal name, ID, category, contact, approved scope, status and next review date. Approved lists also add risk tier, approver and document expiry dates. The download includes all fifteen columns with sample rows.
You can download it from this page in Excel or Google Sheets, free. It includes the approved list, approval criteria, a preferred vendor tab, a supplier audit view and a review log.
Vendor management
Purchase orders
Contracts
Sourcing and RFx
Budgets and business cases
Procurement
Accounts payable
Purchasing
Software buying
Supply chain
Spendflo routes new vendor requests through intake, runs supplier onboarding and third-party risk checks, and tracks contracts and renewals once a vendor is approved.
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