Managing Credit Memos for a Vendor

You can record Credit Memos from your Vendors to Add Credit to or Deduct Credit from a Vendor account. Creating a Credit Memo is easy and you can do so by following the simple steps shown below:

This article applies to + Professional and + Enterprise.

1.  Click on the Modules tab, then click on the Vendors icon in the ribbon on main page.

2.  Open the desired Vendor record by double-clicking on it.

3.  Click on the Credit Memos tab.

4.  You can either click Add Credit (if your vendor owes you) or Deduct Credit (if you owe your vendor more). If you are wanting to Add Credit, go to Step 5. If you are wanting to Deduct Credit, go to Step 6.

5.  After clicking on Add Credit, specify the Entity from the drop-down that the credit is for. You will have the option to enter in a credit memo number or CM # and a Note. Finally, you will need to enter in the amount of the credit, then click on Save.

6.  After clicking on Deduct Credit, specify the Entity from the drop-down that the credit is for. You will have the option to enter in a Note. Finally, you will need to enter in the amount of the credit, then click on Save.

You cannot deduct more than what is credited. You will see a max amount listed next to the Amount section.