Associating a Vendor Credit With a Deposit

In your NetSuite account, you can associate a vendor credit with a bank deposit.

If the vendor has sent you a refund by cash or check, you first need to record the deposit.

To record a deposit:

1. Go to Transactions > Bank > Make Deposits.

2. On the Deposits subtab click the Other Deposits subtab.

3. Enter the vendor Name.

4. Enter the Amount.

5. Enter the accounts payable account beside the amount.

   Be sure this is the same Accounts Payable account on the Vendor Credit.

6. Click Save.

To associate the vendor credit and the deposit:

1. Go to Transactions > Payables > Pay Single Vendor.

2. In the Payee field, choose the name of the payee.

   The bill credit and the deposit appear in the list at the bottom of the page.

3. In the Account field, choose the account in which you deposited the vendor's refund check.

4. Verify the Exchange Rate.

5. Verify or enter a Date.

6. If you use accounting periods, in the Posting Period field, choose the period you want this transaction to be recorded in.

7. Click the Apply subtab.

8. Check the boxes in the Apply column next to the bill credit and the deposit.

9. Click Save.

   Note:

   After you pay the vendor, your vendor credit and deposit are associated in NetSuite.

Related Topics

Entering Vendor Credits

Entering a Vendor Credit Manually

Creating a Vendor Credit Directly From a Vendor Bill

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