How to Apply Vendor Credits

How to Apply Vendor Credits

Overview


If you have received a credit from a vendor from a Purchase Return, overpayment or other reason, there will come a time when you need to use that credit on a Bill.  This is accomplished with the Apply Vendor Credits feature. Using this feature you will be able to apply the credits to the unpaid Bill(s) of your choice.

Navigation / Use

Apply Vendor Credits may be accessed via the sub-menu in the Purchases Module, from Companies, or from the Workspace.
  1. From the Apply Vendor Credits list screen, Click Create / New.
  2. Enter the Vendor name.
  3. In the lower half of the screen will be two lists:   Outstanding Purchase Documents and Outstanding Vendor Credits.
  4. Check the checkboxes next to the bills and the credits you would like to apply to the balance.
  5. Totals of checked bills and checked credits will appear at the bottom on the list.
  6. The difference between the amount applied of the checked credits and the amount applied of checked Purchase Documents will be listed near the top. The difference must be zero before saving.  To balance, adjust the amount applied on the bills until the amount applied equals the amount of the credit (or the amount of the credit to apply).
  7. Click Save and Close.


Last Updated  12/13/2022 - JML


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