A vendor credit is a financial transaction that reduces the amount of money owed to a vendor for a future bill.
After a vendor issues a credit to you, you need to enter the credit in the vendor's account.
Once the vendor credit has been recorded, you can then redeem the credit by applying the credit against an outstanding bill.
To add a vendor credit, please follow the simple steps below:
1. Go to Vendors, and select Vendor Summary from the drop-down options.
It contains an overview of the vendor's details, quick links to all management actions as well as list of all purchase orders, bills, shipments, credits and transactions.
2. Then, use the search box to find your vendor.
- vendor ID
- vendor's company name
- vendor's name
3. Press the Manage Credits button from 'More Actions' column or simply press the Manage Credits tab.
4. On the right side of 'Manage Credits' page, press the green + Add Credit button. A form will then appear to allow adding the credit.
5. Enter the Date, desired Amount and a Short Description.
6. Finally, press the Add Credit button to complete the process.
That's it!
If you have any issues, please feel free to contact our Support Team.
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