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Vendor Returns with Credit Card (Credits)

Vendor Returns (Credits)

  1. When a return is done for something purchased by credit card you will need to enter a credit memo into accounts payable – maintain invoices for that vendor coding to the appropriate expense/inventory account.  Post the credit memo through Post Invoices.

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  1. The system does not allow you to print a negative check so you will now need to adjust off the credit memo so that it appears as a reconciling item in the general ledger account for the credit card.  Go into Maintain Invoices and recall the credit memo that you just posted (it has to be posted in order to do this step).  At the bottom of the screen you will have the option to do and “Invoice Adj”.  Click on that prompt and complete the screen as below coding the adjustment to the general ledger account you created for the credit card payable.  Make sure the adjustment amount is entered as a positive number and the second line of your GL grid is the credit card payable accouImage

  2. Once these accounts payable transactions are posted to the general ledger they will show in the bank reconciliation screens to be reconciled.

**If at any point you run into any issues, feel free to email [email protected] for assistance.**