Vendor credits allow you to capture a credit memo and amount that has been provided by your vendor and which you can apply towards your bills.
To add a credit to a vendor:
Navigate to the Vendors section in your lefthand navigation panel.
On the top bar select the Vendor Credit Memo from the dropdown options under the + Add vendor button.
Upload a .PDF of the vendor credit and enter an amount
Alternatively, you can select a vendor to edit, click on the Documents tab, and click on the + Add document to select vendor credit memo.
To check your vendor credit balance:
Check the Vendors tab. You'll see a column with the available balance shown as Credit available in the row for each vendor.
To use vendor credits:
After selecting a vendor for a bill, if that vendor has available credits, an Apply Vendor credit button will appear below the invoice amount.
Click Apply Vendor Credit.
A modal will display all available vendor credits for the selected vendor.
For each vendor credit memo, enter the amount you’d like to apply toward the invoice.
To apply multiple vendor credits, click + Add New Vendor Credit Memo at the bottom left of the screen.
Once you've selected the amounts, click Apply to apply the vendor credits to the invoice.
After applying the credits, you can proceed with scheduling the payment for the remaining balance.
To add multiple vendor credits:
The best way to add additional vendor credits to a bill is to open the bill, navigate to the Payment tab on the right-hand side, and under Vendor Credit, click the View button.
This will open a separate window displaying the vendor credits currently applied to the invoice and their corresponding amounts. At the bottom of this window, click Add New Vendor Credit Memo to add any remaining credits directly.
The memo name will appear under the Memo # column, and a text box will open allowing you to manually enter the amount.
Once you’ve finished adding the credits, click Save in the bottom-right corner to confirm your changes.
If you run into any issues or receive any errors while entering the information, please reach out to support@settle.co
Using vendor credits notes:
Make sure to apply a vendor credit to an invoice before sending the invoice for invoice approval.
If you wish to remove or update a vendor credit on an already approved invoice, cancel the invoice approval request, update the vendor credit application and re-send the invoice for approval
Vendor credits can completely pay off the balance on an invoice.
Multiple vendor credits can be applied to a single invoice.
Vendor credits can be partially applied to an invoice.
FAQs
Q: When data is added to the vendor memo field, does it sync to QBO?
A: Yes, it does. The information entered in the vendor memo field will sync to QuickBooks Online.