CenterPoint® Fund Accounting - Refund Received from 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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Follow the steps outlined below if a vendor sends you a refund for a credit balance they've been carrying. This process assumes that the vendor originally issued a credit memo, which you have already entered into CenterPoint. The refund will transfer to the bank reconciliation as a negative check (same affect as a deposit).

Process Refund Received from Vendor

The payment transaction will zero the vendor's balance and increase the balance of the bank account by the amount of the refund.

  1. Select Processes > Purchases > Payments.

  1. Select the appropriate vendor in Pay To The Order Of.
  2. In the Check Number field, specify either a description of the refund or the vendor's check number.
  3. Specify the Date the refund was received. Leave the Amount at zero.
  4. Click on the Apply To Open Invoices button.

  1. Select the Pay box for the credit the refund check was received for.  Click OK.
  2. In the second row of the grid, select the bank/checking account in the Account field.
  3. Specify the Amount of the refund received. This should be a positive number, offsetting the credit on the first row.
  4. Click the Print button and verify that the Print Check check box is not selected.
Note: If you want to attach a document to this transaction, see the Attach Documents to Transactions topic for detailed information.
  1. Click Save.

Document: 3173

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