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Vendor Credits

Updated

Overview

Note: Help content (except videos) has been updated to reflect the UI/UX changes in BQE CORE.

The Vendor Credits screen is where you create, edit, and track accounts payable credits. A vendor credit is generally issued when you receive a credit or an advance payment from a vendor. For example, if some defect is found in one of the items that was supplied by a vendor and paid in full, you can reissue a new vendor bill and get the new part. Then you can pay off the bill using the vendor credit. However, vendor credits cannot be used for the payment of reimbursable expenses. Click to watch this video on managing vendor credits in BQE CORE.

vendor_credits_thumbnail.png

From the accounting view, entering vendor credits decreases and debits the A/P account on one hand; on the other hand, it credits and decreases your expense account. Vendor credit cannot be zero.

Field Descriptions

How To

Add Vendor Credits

Edit Vendor Credits

Add Documents

Add Custom Fields

View Journal

Show/Hide Columns in Grid

Export Vendor Credits

View Reports

Apply Filters

Mark Screen as Favorite

Field Descriptions

Field Name Field Description
Vendor Credits > List View >

Info Bars:

Credit Balance

This is the balance amount of the credit issued to the vendors. If you create an accounts payable check against a vendor, that amount also gets reflected here. It includes the values of active records only.  

Credit Balance = Credit Amount - Credit Used
Entered Fiscal YTD Total credit issued to the vendors in the current fiscal year. It includes the values of active records only.
Used Fiscal YTD Total credit used by the vendors in the current fiscal year. It includes the values of active records only.
Vendor Credits > Add Vendor Credit >
Reference No. Allows you to enter a vendor's credit memo or reference number.
Credit Amount Total credit amount calculated automatically based on the line item entered in the grid.
Accounts Payable It is an A/P account that gets posted when you are recording any vendor credit. This account gets pre-filled with the one set up at the global level (Settings) but you can overwrite that if you have multiple A/P accounts.
Vendor Credits > Add Vendor Credit > Credits >
Account Account to which the vendor credit is posted. It can be expense, income, bank or any other account.
Amount Amount of credit or advance received from a vendor. The sum total of all such amounts is recorded as the credit amount.
Project You can specify a project here to be reflected in project-based accounting reports like Profit & Loss by Project, Balance Sheet by Project, etc. This, however, does not tie the vendor credit to any specific project.
Class Allows you to specify a classification for this transaction. If you have set up a class at the vendor or project level, it gets passed on here, though you can overwrite it. The vendor class gets precedence over the project class, if both exist.

 

Add Vendor Credits

To add a vendor credit in BQE CORE, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditsAddCredit.png

  2. Click Add Vendor Credit on the top-right.

  3. On the Add Vendor Credit screen, enter the required information. Check Field Descriptions above for details.

    • Vendor

    • Accounts Payable

    • Credit Amount

      VendorCreditsAddCredit2.png

  4. On the Credits tab, click Add to add line items for the credit.

  5. Enter the required information in the top row of the grid. Check Field Descriptions above for details.

    • Account: to which the vendor credit is posted

    • Amount: Amount of credit or advance received from a vendor

    • Project

  6. Click Done.

  7. When you have finished adding all the line items, click Save & Done.

Edit Vendor Credits

You can edit vendor credits in the detail mode. You cannot delete vendor credits that are in use for bill payments.

To edit a vendor credit:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditRowAction.png

  2. In the list view, select a vendor credit on the grid and click dropdown-caret.png to select View Details.
  3. Select all the vendor credits on the grid that you want to delete and click Actions > Delete. Alternatively, you can use the row-action menu to delete them individually.

  4. On the Edit Vendor Credit > General screen, enter details or make changes, as needed.

    VendorCreditEdit.png

  5. Click Save & Done.

Add Documents

To add a document to a vendor credit:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditRowAction.png

  2. In the list view, select a vendor credit on the grid and click dropdown-caret.png to select View Details.

  3. On the Edit Vendor Credit > Documents screen, click Add.

    vendor_credit_documents.png

  4. On the Add Documents dialog, select the relevant tab, depending on the type of attachment.

    • Computer: To attach files stored on your computer, enter its Description and drag your file or click to browse to that location.

    • Hyperlink: To attach an external link, enter its Description and then insert the hyperlink.

    • Dropbox: To link files stored in your Dropbox account, enter its Description and then browse for it.

    • Google Drive: To link files stored in your Google Drive account, enter its Description and then browse for it.

    • OneDrive: To link files stored in your Microsoft OneDrive account, enter its Description and then browse for it.

    • Box: To link files stored in your Box account, enter its Description and then browse for it.

    • Resource Library: To link company resources, select the resource from the library. This option is available only with CORE CRM.

  5. Click Add.

CORE pre-fills some of the information about the attached documents in the grid. You can send the documents to your clients, employees, or other contacts for getting their digital or electronic signatures (eSignature via DocuSign) using the eSign option from the dropdown-caret.png row-action menu. CORE automatically adds the signed documents to the Documents folder of the entity (record) as separate attachments. It displays the status of the document, whether it has been delivered via DocuSign, viewed by the recipients, declined or completed by the recipients, etc. This column does not show up if you are not connected via the DocuSign integration. You can also check the detailed video on managing documents in CORE.

Add Custom Fields

Using the custom fields, you can track extra characteristics and attributes of your vendor credits. For example, you might track vendor specialization and experience to match your company's needs. You can customize these fields in the Custom Labels screen.

To add a custom field, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditRowAction.png

  2. In the list view, select a vendor credit on the grid and click dropdown-caret.png to select View Details.

  3. On the Edit Vendor Credit screen, go to the Custom Fields tab.

    vendor_credits_custom_fields.png

  4. Click Add Custom Field and select the type of field you want depending on the purpose, say Text Box.

  5. On the Add Text Box dialog, enter the required information:

    • Name
    • Type
    • # of Characters
  6. Check Show in List View if you want this field to appear under the Show/Hide Columns list and show up on the grid. Click Save.

Note: You can display a maximum of three custom fields on the list view per screen.

You can also check the detailed video on managing custom fields in CORE.

View Journal

You can understand the accounting behind a transaction by looking at its journal entries. In CORE, you can open the Journal report to view the transaction details, including the accounts being credited or debited.

To view the journal, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditRowAction.png

  2. In the list view, select a vendor credit on the grid and click dropdown-caret.png to select View Journal. It opens in the viewer.

  3. Preview the journal report and then choose to export or print it.

    VendorCreditViewJournal.png

Show/Hide Columns in Grid

You can configure the fields or columns that appear on the grid in the list view. You can hide or show columns and sort the order of columns according to your requirements.

To do so, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditsShowHide.png

  2. In the list view, click More > Show/Hide Columns on the action bar.
  3. Select or un-select the column names in the drop-down list, say Balance.
  4. Next, click the column you want to sort, say Vendor.
  5. Click once for ascending order (A-Z) and twice for descending order (Z-A).

Note: You can resize the column widths on the grid and then reset them, if needed (More > Reset Column Widths).

You can also check the detailed video on navigation and customizing grids in CORE.

Export Vendor Credits

In CORE, you can export vendor credits to the Comma Separated Values file format. CORE exports data from all available columns and not just the columns visible in the grid.

To export vendor credits to a .CSV file, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditMoreMenu.png

  2. In the list view, click More > Export as CSV.

  3. A .csv export file is created and saved on your system at the default download location, say your desktop. Click to open the spreadsheet.

You can also check the detailed video on exporting data in CORE.

View Reports

To view a report:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditsReports.png

  2. In the list view, click More > View Reports.

  3. Select a report from the Report List dialog. It opens in the viewer.

  4. Preview the report and then choose to export or print it.

You can also check the detailed video on running and managing reports in CORE.

Apply Filters

To view selective data on the grid, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditsFilter.png

  2. In the list view, click filters-01.png on the right.

  3. On the Filters panel, select a filter from the drop-down and specify individual records or range.

  4. Click Add Filters to specify more filters.

  5. When you have finished, click Apply Filter . You can see selective data now.

  6. In the list view, you can remove the individual filters by clicking remove-01.png on each. To disable applied filters temporarily or remove all filters, click filter_icon.png next to the Filters icon and select Disable Filters or Clear All, respectively.

You can also check the detailed video on applying filters in CORE.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in CORE as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in CORE from User Settings.

To mark this screen as your favorite, watch this video or follow these steps:

  1. Open the Vendor Credits screen from the side menu > Accounting > Payables.

    VendorCreditsFavorite.png

  2. In the list view, click favorites.png on the top-right.

  3. You can access this screen from the side menu under Favorites.

You can also check the detailed video on marking screens as favorite in CORE.

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