AP Credits are used to record a reduction in Accounts Payable, either for credits against existing Bills or amounts owed by Vendors. AP Credits are different from Vendor Credits, as it is its own document for a particular Vendor, and that is never applied to a particular Bill. Vendor Credit is a credit amount that is created for a particular Vendor in Accounts Payable and later applied directly against a Bill in the Pay Bills tab of the Cash Management module.
Manage AP Credits from this page:
Add/Edit AP Credit
Enter all required fields and click submit. You can also click the down arrow next to the submit button and click 'Submit and New' to open a new blank AP Credit to complete.
Vendor - The vendor for the AP Credit (click the + icon to Create New Vendors)
Reference - Optional text field to include a reference for the AP Credit
Invoice Date - Date of the AP Credit
Posting Date - Journal posted date of the AP Credit
Location - Location to post the AP Credit in
Intercompany Location - Intercompany Location to post the AP Credit in
Due Date - Date the AP Credit is due
Currency - currency AP Credit is created in
AP Account - Ledger Account to use as the Accounts Payable side of the journal entry
Purchase Order - optional field to link to the AP Credit with an existing Purchase Order
- Item/Description/Kit - click to toggle between a description/item/kit line item.
- Cost Center - The line items associated cost center
- Job - The line items associated job, only this customers jobs will be available
- Product - The line items product.
- Expense Account - if the line item is a description type, this will be required as the alternate side of the journal entry from the AP Account
- Quantity - Number of items (multiplier for amount to create total)
- Amount - Price per item
- Tax Code- Select the tax code to apply a percentage tax to the AP Credit
- Tax Amount - Populated from the Tax Code or manually entered
- Total - Calculated by taking (Quantity * Amount) + Tax Amount
Drop here to add attachments - Drag and Drop attachments to upload them and associate them with the AP Credit
Notes - Long form text field for extra information regarding this AP Credit
- When an AP Credit is created, its status is 'created', and associated journal entries are created in 'draft' status.
- An AP Credit's journal entries cannot be modified, you must edit the AP Credit itself and the associated journals will be updated.
- Once an AP Credit is approved, the journal entries will be posted.
Details - Click the AP Credit number to view the AP Credit's detail Page. For more information see this article: AP Credit Detail
Attachments - Click the blue paperclip icon on the AR Credit row to view a list of the AR Credit attachments and download.
Approve - Click the approve icon to approve the AP Credit. This does the following:
- Set the AP Credit to status 'approved'
- Posts AP Credit's associated journal entries
Edit - Click the edit icon to update the AP Credit fields
Create IC Document Journal - Click to create an IC document journal entry for this AP Credit
Void - Click the void icon to void the AP Credit. This does the following:
- Sets the AP Credit to status 'voided'
- Posts a journal entry reversing the issued entry.
Delete - Click the delete icon to delete this AP Credit
Select multiple checkboxes next to the AP Credits and then click Actions:
Delete Selected - Any selected AP Credits will be deleted. If an AP Credit is selected that cannot be deleted it will be skipped.