How to Enter and Manage Vendor Credits or Refunds
A vendor credit is money owed to you from a vendor for overpayment of a previous bill, return of items, or any other reason. This topic will cover entering, editing, and deleting vendor credits.
Usage
Use this form if you receive credit from a vendor.
Enter the expense accounts, customers, or jobs to which you want to assign the credit.
Note: You DO NOT need to enter a negative sign (Example: –15.00). Total Office Manager’s vendor credit knows this is a credit and takes care of the debit and credit part of the transaction for you.
To make expense or item changes, click Edit Vendor Credit. In the Enter Vendor Credit window, make your changes, and click Save & Close.
Form Access
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From the main menu, click Vendor | New Credit
Note: The amount of the vendor credit will automatically populate the Amount field, once the amount (or amounts) has been entered in the expense or item tabs of the Vendor Credit List Window.
Field and Button Definitions
Vendor Credit
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Vendor |
Select the correct vendor from the drop down menu. Or create a new Vendor by clicking the hand icon to the right of the vendor field. |
|
Date |
The current date will automatically popular the field, or you can enter another date by clicking on the drop down arrow for the calendar. |
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Amount |
Do not enter a dollar amount in this field. It will automatically popular with the correct dollar amount once all amounts are entered. |
|
Reference # |
Enter the credit memo number, or any number you would like to track this credit. |
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Memo |
Enter any general information you might need to track this particular vendor credit. |
Expenses Tab
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Account |
Select from the drop-down menu the expense account that is to be affected by the bill. |
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Amount |
Enter the amount of the bill for the particular expense being entered. You may be entering more than one expense item. |
|
Memo |
Enter any particular information pertaining to the expense bill you are entering, that you may need to help track this expense bill. |
|
Customer Job |
Select from the drop-down menu the customer job for this particular expense bill, if applicable. |
| Department |
Select the department (if any) that this expense is related to. If you need to, you can split the checkup using as many line items as needed. This allows you to have departmentalized financial statements. |
| Marketing |
Select the correct marketing type (if any) that this expense relates to. This is how Total Office Manager matches marketing types with expenses. This information appears on certain reports and allows you to see which marketing types perform best by comparing its expense with related sales. |
Items Tab
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Item Code/ Description |
Select the particular item code/description of the line item you are entering. from the drop-down menu. |
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Qty. |
Enter the fiscal number of the line item you are entering the credit for. Example: 3 |
|
Warehouse |
Enter the warehouse (storage) location you are taking the credit items from. |
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Cost |
Enter the cost of the credit item you are entering. Example: $25.00 |
|
Amount |
Enter the total amount of the line-item credit you are entering. Example: $75.00
|
|
Customer Job |
Select from the drop-down menu the Customer job, if applicable. |
|
PO / Serial #s |
Enter the P.O. or the serial number, if applicable. |
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Department |
Select the department (if any) that this expense is related to. If you need to, you can split the checkup using as many line items as needed. This allows you to have departmentalized financial statements. |
Button Definitions
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Save & Close |
Click to save the vendor credit and close the form. |
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Save & New |
Click to save the vendor credit and open a new Vendor Credit window. |
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Clear |
Clear the information that has been entered into the Vendor Credit window. |
Step-By-Step
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Open the form and sort the list if desired.
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To enter a new vendor credit, click the Credit button (lower left-hand corner of the form) and select New Vendor Credit.
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To edit a vendor credit, click the Credit button (lower left-hand corner of the form) and select Edit Vendor Credit.
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To delete a vendor credit, click the Credit button (lower left-hand corner of the form) and select Delete Vendor Credit.
Tips
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You can delete multiple vendor credits. To highlight multiple Vendor Credits, press and hold your CTRL key and click each vendor credit. You may also select a range of vendor credits by highlighting the first Vendor Credit in that range, pressing and holding your left Shift Key, and clicking the last vendor credit in that range.
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You can select a vendor credit and right click for common task.
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