Dim rs As DAO.Recordset
Set rs = CurrentDb.OpenRecordset("SELECT * FROM Contacts")

'Check to see if the recordset actually contains rows
If Not (rs.EOF And rs.BOF) Then
    rs.MoveFirst 'Unnecessary in this case, but still a good habit
    Do Until rs.EOF = True
        'Perform an edit
        rs.Edit
        rs!VendorYN = True
        rs("VendorYN") = True 'The other way to refer to a field
        rs.Update

        'Save contact name into a variable
        sContactName = rs!FirstName & " " & rs!LastName

        'Move to the next record. Don't ever forget to do this.
        rs.MoveNext
    Loop
Else
    MsgBox "There are no records in the recordset."
End If

MsgBox "Finished looping through records."

rs.Close 'Close the recordset
Set rs = Nothing 'Clean up