Vendor Credits Overview

A Vendor Credit is a Credit Memo provided to your company from a Vendor. A Vendor Credit may be the result of a part returned to the Vendor, an invoicing error on behalf of the Vendor or perhaps a Vendor Rebate or Referral Credit. Vendor Credits that are not part related are manually entered. Vendor Credits for part returns go through a matching process similar to the matching process used in entering Bills for a part receipt.

When a part is returned to a Vendor using the Vendor Return function, a Return record is created for the Vendor. When the Credit from the Vendor is received, it is matched to the Return record to generate the Vendor Credit in SedonaOffice.

Once a Vendor Return has been created for Inventory Parts a Return record is created and posted to the General Ledger. If using the Return to Vendor function, it is important to always create the Vendor Credit from the Return record. Vendor Credits for Inventory Parts may only be created from a Part Return record.

Parts Returned from a Warehouse

For Vendor Returns, a credit is posted to the Inventory account associated with the warehouse from which the parts were returned and a negative credit is posted to the Inventory Receipts account (SedonaSetup G/L Account Defaults for AP).

Both methods of entering Vendor Credits will be covered in this section.

Applying Vendor Credits to Bills

Vendor Credits are applied to Bills through the Bill Payment process. Refer to the Pay Bills

Follow the topic links below for information related to the Pay Bills and Apply Vendor Credits topic for more information.

Enter a Vendor Credit from a Part Return

Manually enter a Vendor Credit

Edit a Vendor Credit

Delete a Vendor Credit