A vendor credit is a document that records credits received from suppliers for returned goods or pricing adjustments. It helps manage refunds and adjustments in Sevenledger
Vendor Credit Workflow
1. Creation
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Navigate to Purchase > Vendor Credit tab in the sidebar
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Click "Add Vendor Credit" button
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Enter required vendor information and credit details
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System generates a unique Debit Note number automatically
2. Basic Information Entry
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Vendor Selection: Choose supplier from dropdown
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Credit Date: Select when credit was issued
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Reference Number: Optional field for external reference tracking
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Terms & Conditions: Document any specific agreements
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Notes: Space for additional relevant information
3. Item Details Entry
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Item Selection: Choose products/services from inventory
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Account Assignment: Select appropriate expense account
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Quantity and Rate: Enter units and price per unit
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Tax Configuration: Apply relevant tax rates
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Amount Calculation: System automatically computes based on inputs
4. Financial Details
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Subtotal: Automatic calculation of all items
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Transaction Discount: Enter any overall credit adjustments
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Discount Account: Select account for discount tracking
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Total Amount: Final calculated credit value
Status Management
Available Statuses
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Draft: Initial state for new credits
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Open: Active credit ready for application
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Void: Cancelled or invalid credits
Status Actions
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Mark as Open: Activate credit for use
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Apply to Bills: Link credit to specific vendor bills
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Refund Processing: Convert credit to actual refund
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Void Credit: Cancel active credits when needed
Advanced Features
Document Management
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Clone Function: Create duplicate credits for similar transactions
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Delete Option: Remove incorrect or unnecessary credits
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Filtering System: Sort and find credits by date, vendor, or status
Credit Application
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Bill Selection: Choose eligible bills for credit application
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Amount Distribution: Allocate credit across multiple bills
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Balance Tracking: Monitor remaining credit amounts
Troubleshooting Guide
Common Issues
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Required Field Validation: Ensure all mandatory fields marked with asterisk
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Format Verification: Check numerical entries for correct formatting
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Connection Issues: Verify stable internet for saving transactions
Best Practices
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Verify all credit details before saving
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Document reasons for credits in notes section
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Regularly reconcile applied credits with vendor statements
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Maintain clear communication with vendors about credit status
Important Notes
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Credits must be marked as Open before application
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Refunds require appropriate payment account selection
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Regular backup of credit documentation recommended
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System automatically tracks credit balance and usage