A vendor credit is a financial transaction that reduces the amount of money owed to a vendor for a future bill.
- When I paid for new a new staircase, I was initially charged $400; since I already paid and it ended up costing only $350, I was given a $50 vendor credit.
- I prefer to receive vendor credits instead of an actual refund since it reinforces the strong relationship I have with my vendors.
- Cashing in vendor credits is just as valuable as real money in the eyes of a vendor.
In Buildium, you can enter and process credits you receive from a vendor. When you use a vendor credit, the amount due to the vendor will be reduced by the amount of the credit issued. If you enter a vendor credit by mistake or need to change any information on a vendor credit, you can do so from the vendor financials page.
Edit a vendor credit
- Navigate to Accounting > Vendors page.
- Click the name of the vendor whose credit you want to edit.
- Select the Financials tab.
- Find the vendor credit that you'd like to change and click the date.
Make your changes.
- Click Save to save the new credit information and return to the Vendor Ledger page.
Delete a vendor credit
- Navigate to Accounting > Vendors.
Click the name of the vendor whose credit you want to delete.
From the vendor summary page, click the Financials tab.
Find the vendor credit that you'd like to delete and click the date, then select Delete.
- A confirmation pop-up window appears, prompting you to confirm the deletion. Click OK to delete the credit and return to the Vendor Ledger page.