Occasionally, instead making payments to vendors, the property manager receives funds from them, for example, a refund.
To record a refund from a vendor, you create a vendor receipt. Vendor receipts are different from tenant receipts. The system creates two transactions at the same time -- a receipt and a charge -- whereas for a tenant receipt the system matches the receipt with an existing charge.
To create a vendor receipt
Go to Accounting > Accounts Receivable > Receipts.
Click Add New.
Note: If you are using batch processing, complete the batch header and proceed to the New Receipt screen. If not, the New Receipt screen appears automatically.
In the New Receipt screen, click the Vendor button.
The screen changes, adding a field where you can select a vendor.
When you receive money from a vendor, the system automatically creates a charge for it. In the example shown above, we selected the charge code for Miscellaneous.
Complete the screen and click Save.
You can view the transactions on the Vendor Ledger.
There are two lines: one for payment (the receipt), and one for the charge.
Note: If the receipt covers multiple properties, you can add additional lines for them on the Receipt screen, and the system will create one charge for each property.