How to process a Vendor refund using the Returns/Credits system when the Vendor provides you with a refund check for a Vendor Invoice
The following help is for DM ONLY ? Click here for Pro
How to process a Vendor refund using the Returns/Credits system when the Vendor provides you with a refund check for a Vendor Invoice:
- Open Documents and Accounting
- Select the Returns Button
- Select the Vendor Tab
- Select the Credit Type ? Refund Check AND choose the proper payment type for the refund check in the drop down.
- Select Credit For ? Invoice (Project PO)
- Enter the Credit Information
- The Amount should be the TOTAL amount of the credit you are receiving, entered as a Positive.
- Choose OK to BOTH of the next 2 warnings that may appear.
- Highlight the Component(s) to be refunded and choose the Pencil button to Edit the Cost.
- Change the Cost amount to be the Negative Cost being refunded for each component refunded.
- Choose Ok and then Confirm the total Amount Due matches the amount you have entered previously into the Amount field from the Returns and Credits window (except this amount will appear as a negative). *If the amount does not match, edit the other components costs that are not being refunded to be sure they are $0.
The following warning may appear ? choose OK.
The Refund will process.
You will now see 2 entries on the Checking ? Pay Bills/Print Checks tab. One will be a positive and the other a negative for the same dollar amount. You will need to tag these entries and choose the Offset button.
The entry will appear as a Deposit in your checkbook.