Creating a Vendor Credit

Creating Vendor Credits in SapphireOne is necessary for issuing refunds or adjustments to Vendor accounts. This process ensures that all Vendor Transactions are accurately recorded and applied to the appropriate invoices. Vendor credits are used to record returns or adjustments.
This lesson will teach you how to create a vendor credit in SapphireOne.

1. Navigate to Accounts > Payables > Data Entry and then select the Vendor Credit item. Sapphire one will display the Vendor Credit Entry screen ready for data entry
2. SapphireOne will place the cursor in the Vendor ID data entry field, so enter the required Vendor ID or choose the Vendor ID from the provided list.
3. Complete the necessary fields, including Credit Date, Amount, and any additional notes.
4. Finalise the Vendor Credit by clicking on the green tick button on the main toolbar.

Reversing a posted Vendor Payment

1. Navigate to Accounts > Payables > Data Entry and the select the Transactions item.
2. From the list of transactions, select the posted Vendor Payment (VP).
3. Next go to Sapphire Tools > Process and select the Reverse Transactions item.
4. SapphireOne will automatically create a Vendor Journal (VJ). This journal will have the appropriate General Ledger accounts adjusted as required, effectively reversing out the VP once the new VJ has been posted.
5. Navigate back to Accounts > Payables > Data Entry and the select the Transactions item. Then check that the new VJ exists and has been created correctly.

For more detailed information, refer to the Accounts > Payables > Vendor Credit article.