Description

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.

 

 


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.

 


Required AP Credit Fields

  • Vendor - Vendor for the AP Credit (click the + icon to Add New Vendor).
  • Invoice Date - Date of the AP Credit.
  • Posting Date - Journal posted date of the AP Credit.
  • Location - Location to post the AP Credit to.
  • 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.

Optional AP Credit Fields

  • Reference - AP Credit Reference field.
  • Intercompany Location - Intercompany Location to post the AP Credit to.
  • Purchase Order - Link to an existing Purchase Order.
  • Notes - Long form text field for extra information regarding this AP Credit
  • Attachments - Add one or more files to the AP Credit.

 

AP Credit Line Item Fields

  • Item/Description/Kit - click to toggle between a description/item/kit line item.
  • Cost Center - The line items associated cost center
  • Product - The line items product.
  • Expense Account - if the line item is a description type, this will be the alternate side of the journal entry from the AP Account
  • Quantity - Number of items.
  • 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) - Quantity * Amount + Tax Amount

 

 

AP Credit Individual Actions


The following are available from the Actions column on the far right of the table:

 

Attachments - Click to view a list of the AP Credit attachments and download.

 

Approve - Click to approve the AP Credit. This does the following:

  • Set the AP Credit to status 'approved'
  • Posts AP Credit associated Journal Entries

Create IC Document Journal - Click to create an IC document Journal Entry for this AP Credit.

 

Edit - Update AP Credit fields.

 

Void - Void AP Credit. This does the following:

  • Sets the AP Credit to status 'voided'.
  • Posts a Journal Entry reversing the issued entry.

Delete - Delete this AP Credit.

 

Details - Click the AP Credit number to view the AP Credit's detail page:

 

 

AP Credit Bulk Actions


  • Approve Selected - Any selected AP Credits will be approved. If an AP Credit is selected that cannot be approved it will be skipped.
  • Delete Selected - Any selected AP Credits will be deleted. If an AP Credit is selected that cannot be deleted it will be skipped.
  • Void Selected - Any selected AP Credits will be voided. If an AP Credit is selected that cannot be voided it will be skipped.

 

AP Credit Table Actions

  • Filters - Filter what appears in the table based on one or more fields available in the table.
  • Saved Views - You can create a set of filters that you would like to save to be able to quickly filter a table.
  • Column Selector - Hide and reveal extra columns and the number of rows visible in the table per page.
  • Export - Table data can be exported using the export button at the top of the table.

 

Important Considerations

  • 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.