How do I record the payments I receive from my vendors?

If you’ve made an excess/advance payment to a vendor and the vendor refunds a part or the entire excess/advance payment, you can record the refund under Payments Made. To record an excess/advance payment:

Go to Purchases on the left sidebar.
Select Payments Made.
Select an excess/advance payment.
Click the More button in the top top right corner.
Click Refund.
Enter the Amount, select the Refunded On date, and select the To Account.
Click Save.

The refund will now be recorded under Payments Made.

If you return goods or services to a vendor, or if you cancel an order, the vendor will provide a refund for your purchase. In Zoho Books, you can record the refund as vendor credits, which you can use for future transactions with the vendor. However, if you’ve requested a refund and the vendor has issued it, you can record it in Zoho Books under vendor credits. Here’s how:

Go to Purchases on the left sidebar.
Select Vendor Credits.
Select a vendor credit.
Click the More button in the top right corner.
Click Refund.
Select the Refunded On date, enter the Amount, and select the To Account.
Click Save.

The refund will now be recorded under Vendor Credits.

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