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Vendor Credit

Solution Go to Payables -> Vendor Bills -> New Vendor Bill. Create a bill with a negative amount (the amount of the credit). When you receive a future bill for a positive amount, you can apply the credit to help pay for that.


For example:

1. Receive invoice #1234 in the amount of $100.

2. Create a New Vendor Bill to pay $120. (Payables -> Vendor Bills -> New Vendor Bill)

3. Receive a credit notice of $20 from your vendor.

4. Enter a New Vendor Bill with -$20.00 as the total.

5. Receive a new invoice #1235 in the amount of $200.

6. Create a New Vendor Bill to pay $200.

7. Go to Payables -> Checks -> Write Checks -> Pre-approve Bills. Approve the negative and positive amounts.

8. Go to Payables -> Checks -> Write Checks -> Write Checks for Pre-Approved.

9. When you print the check the amount will be $180.
 
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Article details
Article ID: 359
Category: Payables
Date added: 2011-03-23 14:56:31
Views: 457
Rating (Votes): Article rated 3.1/5.0 (36)

 
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