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Introduction

This document covers the options for entering a vendor credit memo. Options include:

  • Option 1: Create a vendor credit memo as a negative vendor invoice that could then be included in a payment document.  
  • Option 2: Create a vendor credit memo as a vendor payment.  

Note that the document type (vendor invoice versus vendor payment) will ultimately be used to show purchases (vendor invoices) and payments (vendor payments) in a vendor activity report. Entering vendor credit memos as a vendor payment will result in a misstatement of these amounts. Option 2, however, may be easier in cases where the user wants to immediately apply the vendor credit memo to outstanding vendor invoices.

Option 1 - Entering a vendor credit memo as a negative vendor invoice.

  1. Create a negative vendor invoice in Financials > Accounts Payable > Vendor Invoices.

Option 2 - Entering a vendor credit memo as a vendor payment.

  1. Create a payment method called Credit Memo to be used exclusively for this process.
    Note that the document type (vendor invoice vs. vendor payment) will ultimately be used to show purchases (vendor invoices) and payments (vendor payments) in a vendor activity report. Entering vendor credit memos will result in a misstatement of these amounts. Option 2 may be easier in cases where the user wants to immediately apply the vendor credit memo to outstanding vendor invoices.
    1. For more information on payment methods please see this page: Payment Methods
    2. Follow the instructions to create a payment method, selecting only the Vendor (AP) Allowed and Active check boxes.
      1. Select the Payment Type of "Other" from the dropdown menu.



  2. Use the Credit Memo payment method to create a vendor payment.

Troubleshooting

Available to users with the following Financials roles on their person profile:

  • Creating the Payment method: AP Admin.
  • Creating the Credit Memo through the Vendor Payment Dashboard: AP Poster, AP User.

Additional Information

Help Docs - Vendor Payments

Help Docs - Create Invoice


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