There are times where you will receive a refund or credit on your account from a Vendor. This should be recorded in Design Manager. The first step in recording a Vendor refund or credit it making sure that the original Vendor Invoice or Bill that you are receiving a refund or credit on is recorded in Design Manager. To learn how to enter a Vendor Invoice or bill, click here.
Follow the steps below to enter a Vendor refund or credit.
Vendor Refund
Use this method when the Vendor issues a refund to you via check or credit card
1. On the left side menu, under Accounts Payable, click on Vendor Invoices.
2. Click on the +Add button in the upper right hand side and select Expense / Bill / Miscellaneous.
3. In the Add Expense / Bill / Miscellaneous window, select the Vendor. Then add in the Invoice information:
Invoice Number: Credit Memo Invoice or Refund number from Vendor
Invoice Date: Enter the date of the refund
Trans. Desc.: A description about the Vendor refund. For example, refund on broken mirror
Pay With: Select how you received the Vendor refund. If received via check then click on the green Enter Hand Check/Wire Details button and enter the check information from the Vendor. Note: For Checking Account, select the account you deposited the refund into
4. To add in the Vendor refund details, click on the +Add button.
5. On the Vendor Invoice Distribution [Expense / Misc.] window enter the information:
Type/Account Info: Choose Project Related
Amount/Cost: Enter the amount of the refund with a minus, for example: -820
Project: Select the Project that you received the refund for
Select Existing Item and select the Item the refund is for
Leave the type as selected and edit the Markup% to be 0 (zero)
Select Cost in Non-Taxable and un-check Bypass WIP
When finished entering the information, click on OK.
6. Check the information entered for accuracy. Check the amount field for accuracy and enter notes in the Notes field. When finished click on Save.
7. You'll see the refund listed under New in the Vendor Invoices window. The refund has not been recorded yet and needs to be posted to be recorded. Review the information for accuracy and if needed make changes by clicking on the Tx Ref No. When ready to post, click on Post in top right. On the new window, select the fiscal month to post the payment to and click on Post.
8. The refund is now listed under the Existing tab for Vendor Invoices and the refund will be shown in your Checkbook or Credit Card register (whichever type of pay was selected).
Vendor Credit on your Account
Use this method when the Vendor issues a credit to hold on your account for the next purchase you make with the Vendor.
1. On the left side menu, under Accounts Payable, click on Vendor Invoices.
2. Click on the +Add button in the upper right hand side and select Expense / Bill / Miscellaneous.
3. In the Add Expense / Bill / Miscellaneous window, select the Vendor. Then add in the Invoice information:
Invoice Number: Credit Memo Invoice or Credit number from Vendor
Invoice Date: Enter the date of the credit
Trans. Desc.: A description about the Vendor credit. For example, credit on broken mirror
Pay With: Select A Check. By selecting this, you'll have payment to be used in the future when the Vendor applies the credit to a future Vendor Invoice. Note: Do not click on the green Enter Hand Check/Wire Details button
4. To add in the Vendor credit details, click on the +Add button.
5. On the Vendor Invoice Distribution [Expense / Misc.] window enter the information:
Type/Account Info: Choose Project Related
Amount/Cost: Enter the amount of the credit with a minus, for example: -820
Project: Select the Project that you received the credit for
Select Existing Item and select the item the credit is for
Leave the type as selected and edit the Markup% to be 0 (zero)
Select Cost in Non-Taxable and un-check Bypass WIP