Overview - Vendor Credits
Vendor Credits are credits that you receive from your vendor as an equivalent of the amount that they owe you. With vendor credits, you can track this amount until it is paid by the vendor, refunded, or applied to other bills of the vendor.
Basically, the vendor issues you credits via a credit note, and you can record this as a vendor credit in Zoho Books.
When to record a vendor credit in Zoho Books
Let’s say that you make an advance payment to your vendor, and the final bill amount turns out to be lesser than the amount you had paid. The vendor can keep the remaining amount, and can issue you equivalent credits in your name for the same. So, you can create a vendor credit for the same, and apply it on future bills from the same vendor. When you apply it to the vendor’s next bill, the bill amount is reduced accordingly.
Consider another scenario where your vendor has sent you ten boxes of phones you had ordered, but two of those boxes contain damaged phones. You inform him of this, and he issues a credit note towards the value of those two boxes. So, you can create a vendor credit for the value of those two boxes, and apply it on the vendor’s future bills
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Basic Functions in Vendor Credits
- Create Vendor Credit
- View Vendor Credits
- View Journal
- Import Vendor Credits
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Functions in Vendor Credits
- Apply Credits to Bills
- Refund Credits
- View Refunds
- Import Refunds
- Customize Template
- Add Comments
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Manage Vendor Credits
- Status of a Vendor Credit
- Filter Vendor Credits
- Custom Views
- Sort Payments
- Rearrange Columns
- Export Current View
- Refresh List
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Other Actions for Vendor Credits
- Edit Vendor Credit
- Download as PDF
- Print Vendor Credit
- Attach Files to Vendor Credit
- Clone Vendor Credit
- Void Vendor Credit
- Delete Vendor Credit
- Export Vendor Credits
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Vendor Credit Preferences