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.
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.