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In this video tutorial, the presenter demonstrates how to manage vendor payments, including setting reminders for new payments and editing existing ones. They provide a specific example of managing payments for a vendor named Ashley, detailing a deposit of $500 that has already been paid and an upcoming payment of $1,000 due the following year. Additionally, there’s a final payment of $500 due right before the wedding. After saving this information, viewers can track the payments using a drop-down menu to view the details, including the total invoice amount of $2,000 for Ashley.