PEACHTREE -- Vendor Credit Memos

Vendor Credit Memos

Vendor credit memo is used when purchased goods are returned to the vendor.

For ‘Vendor Credit Memos’ we click on task at menu bar and click ‘Vendor Credit Memos’.

As we select ‘Vendor Credit Memos’ option the following window will appear:

The above window includes following two tabs:

1.       Apply to invoices

2.       Apply to Purchases

First in the tab of “Apply to Invoices”:

Ø We select a vendor to whom we are returning goods.

Ø Now we select an invoice number.

Ø Now we select a date on which we returning goods.

Ø Then we enter credit number. This is used because of how many times goods have been returned to the vendor.

Ø Now we enter quantity or number of units which are to be returned.

Ø Then we select GL account. For that raw material ledger account will be selected for manufacturing business and Inventory account for trading business.

Ø Now total amount will be automatically calculated when returning number of units is entered.

After we are done with the data we click “SAVE” button.

For the tab of “Apply to Purchases” is used when we purchased goods directly.

In this tab we select a vendor from which we have purchased goods directly.

Now we enter the same details as we have entered in ‘Apply to Invoices’.

When we are done with the data we click “SAVE” button.