Entering a Vendor Credit Manually

You can create a credit manually that is not necessarily associated with an existing bill. This could be useful to record credit or a discount negotiated from your vendor either after receiving a bill or independent of any bills.

To enter a vendor credit manually:

1. Go to Transactions > Payables > Enter Vendor Credits.

2. Complete the information in the following sections.

3. Do one of the following:

   • To save the vendor credit, click Save.

   • To save the vendor credit and open a new vendor credit entry form, in the Save button dropdown list, click Save & New.

   • To save and print the vendor credit, in the Save button dropdown list, click Save & Print.

     This option is only available if you have the Advanced PDF/HTML Templates feature enabled. See Vendor Credit Printing.

Primary Information

1. On the Bill Credit page, specify the vendor who is issuing a credit.

   If you use NetSuite OneWorld and have defined vendor records shared with multiple secondary subsidiaries, note the following. You can associated this vendor credit with any of the subsidiaries assigned to this vendor. The items that can be credited reflect the combination of the selected vendor and subsidiary. For more information about globally shared vendor records, see Assigning Subsidiaries to a Vendor.

2. Select the accounts payable account that will be affected by this transaction.

3. Enter the total amount of the transaction. NetSuite updates this amount as you add or edit line items.

   Note:

   The total amount cannot be negative.

4. The currency selected on the vendor's record appears in the Currency field. All currency amounts on this transaction are shown in this currency.

5. The current exchange rate for this vendor's currency appears in the Exchange Rate field. Enter a new exchange rate to update this currency's exchange rate.

6. In the Due Date field, you can specify a date for when this credit is due.

7. Accept or enter the date for the transaction.

8. In the Reference No. field, you can enter a reference number for the credit.

9. Select the period you want to post this credit to.

10. Enter a note about the transaction in the Memo field.

Items subtab

1. On the Items subtab, NetSuite updates the amount in the Applied and Unapplied fields as you add and edit line items.

2. On the Expenses & Items subtab, check the Auto Apply box for NetSuite to apply the credit amount to the oldest outstanding vendor bills.

   NetSuite remembers your preference for using the Auto Apply box on vendor credits. The next time you enter a vendor credit, this box is checked or cleared by default based on the last vendor credit you entered.

   If the expense or item is for a particular customer, select that customer in the Customer column.

   Note:

   If you use NetSuite OneWorld and the selected customer is shared with multiple subsidiaries, you can choose any customer associated with the selected subsidiary. For information about sharing customer records with multiple subsidiaries, see Assigning Subsidiaries to a Customer.

3. Enter the credit information:

   • Click the Expenses subtab to credit non-inventory items. Specify the account number that was originally used for the purchase that is now being credited. Enter the amount and any other notations about this credit.

   • Click the Items subtab to credit inventory items.

   1. To add multiple items to this transactio n:

   2. Click the Add Multiple button.

      The Choose Item window opens and shows a list of items you can add.

   3. Filter the list by item type or name.

   4. In the left pane click an item to add it to the right pane.

   5. Enter an item quantity.

   6. Click Done

      Items and quantities shown in the right pane are added to the transaction.

4. Click the Apply subtab to apply the credit toward a specific vendor bill.

5. Clear or check the box in the Apply column next to bills to determine which bills the credit is applied to.

6. Enter a new exchange rate to update this currency's exchange rate.

   NetSuite updates the amount showing in the Applied and Unapplied fields as you add and edit line items.

7. When you finish adding information about an item or expense, click Add.

Billing subtab

1. Click the Billing subtab.

   1. In the Vendor Select field, choose a vendor.

   2. Verify the billing address displayed in the Vendor field. To change the address, click the Edit button to the right of the Vendor Select field.

Relationships

1. Click the Relationships subtab to add information about contacts. The primary contact for the customer is selected automatically. To edit information for this contact, click the contact name.

   You can also add contacts to this order by entering the contact information and clicking Add.

Communication

1. On the Communication subtab, enter files or activities related to this transaction.

   • To add this vendor credit to a queue of vendor credits to be printed, in the Printing section, check the To Be Printed box.

     This option is only available if you have the Advanced PDF/HTML Templates feature enabled. See Vendor Credit Printing.

   • Use the Events, Tasks, and Phone Calls subtabs to attach activities to this transaction. For more information, see Attaching Events, Tasks, and Calls to Records and Transactions.

   • On the Files subtab, you can select and attach files from the File Cabinet related to this transaction. Select New to upload a new file to File Cabinet.

   • On the User Notes subtab, you can enter a title and note for any comments you want to add to this transaction. Click Add after each note.

Related Topics

Entering Vendor Credits

Creating a Vendor Credit Directly From a Vendor Bill

Associating a Vendor Credit With a Deposit

Creating a Vendor Credit Directly From a Vendor Return

Applying a Vendor Credit

Viewing Vendor Credits

Removing Credits From Deleted Vendor Payments

Vendor Credit Printing

Vendor Credits

General Notices