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 Maintenance > 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 Maintenance > 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.