CenterPoint® Fund Accounting - Enter a Credit Received from a Vendor

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Enter a Refund from a Vendor Video - Duration: 2 min 30 sec

Enter a Credit from a Vendor Video - Duration: 3 min 09 sec

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This topic will explain how to enter a credit received from a vendor that corrects a previous invoice.

Enter a Credit Received from a Vendor

Apply a Credit Received from a Vendor to an Invoice

or

Apply a Credit Received from the Payment Screen

Enter a Credit Received from a Vendor

  1. Select Processes > Purchases > Vendor Invoices (A/P).
  2. In the Company/Fund box, select the company/fund name that the credit is being entered for.
  3. In the Vendor box, select the vendor that you are receiving the credit from.
  4. Verify/change the AP Account.
  5. Verify/change the Date Due (the date should be changed to a more current date if you want it to display on the Pay Invoices Due screen so it can be applied to an outstanding invoice if need be).
  6. Select the Account that should be credited by the amount of the credit.
  7. In the Amount box, enter the amount as a negative.
  8. If you need to adjust the quantity the credit applies to, enter the quantity as a negative.
  9. In the Notation box, optionally enter why the credit is being entered.

  1. Click Save.

Apply a Credit Received from a Vendor to an Invoice

  1. Select Processes > Purchases > Pay Invoices Due.
  2. Select the Company/Fund.
  3. Click the Expand Invoices button.
  4. Select the Pay check box for the invoice(s) and the credit to be applied.

  1. Click Post.

or

Apply a Credit Received from a Vendor on the Payment Screen

  1. Select Processes > Purchases > Payments.
  2. Select the Company/Fund and Bank Account.
  3. Select the Vendor the credit was entered for.
  4. Leave the Amount at 0.00.
  5. Click the yellow Apply to Open Invoices button.
  6. Select the invoice and the credit that should be applied to the invoice. Click OK.

  1. On the Payment Entry screen, click Save.
  2. At the displayed message, click Yes.

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