Vendor Debits Overview

Creating vendor debits
Applying vendor debits and receiving refund checks from vendors
Finding, removing and reversing vendor debits

In MYOB AccountEdge, a vendor debit is a transaction that indicates a vendor owes your company money. You can create a vendor debit in several ways.

You can choose from two ways of settling a vendor debit:

  • By applying the vendor debit to one or more of your unpaid purchases with the vendor

  • By indicating that you received a refund check from the vendor for the amount of the vendor debit

Creating vendor debits

Vendor debits can be created in several ways. Refer to the topics below for each of the techniques you can use for creating a vendor debit. If none of the other procedures is appropriate, use the procedure titled To create a vendor debit for no specific reason.

When you’re creating a vendor debit for the first time, you may have to create an account designated for tracking returns and allowances using the Accounts List window and Edit Accounts windows in the General Ledger Command Center. Be sure the new account is an expense account. See Creating accounts for more information.

Note: If you want to print vendor debits and discounts on the check stub

 If debits and discounts have been applied to a bill, you may want to print the total amounts of debits and discounts on the vendor payment check stub. The fields for debits and discounts appear on the vendor payment check stub, but in order for debits and discounts to be printed on the payable check stub, the fields must be made active. To learn how to display vendor debits on the check stub, see Displaying applied debit memos on check stubs. To display discounts on the payable check stub, follow the same directions substituting the [YTD Discounts] field for the [YTD Debits] field in the procedure.

Click below for the step-by-step procedure:

To create a vendor debit for no specific reason

To remove an order with a deposit applied to it, and to enter a refund check from the vendor for the deposit amount

To reverse a bill

To create a vendor debit for an item bill when you didn’t return all the items that were on the bill

Note: If you overpaid a vendor

Applying vendor debits and receiving refund checks from vendors

AccountEdge allows you to apply the vendor debit to one or more of your open bills and orders with the vendor or indicate that you’ve received a refund check from the vendor for the amount of the vendor debit.

Click below for the step-by-step procedure:

To apply a vendor debit (from the Purchases Register)

To apply a vendor debit (from the Vendor Payments window)

To receive a refund check (from the Purchases Register)

To receive a refund check (from the Vendor Payments window)

Finding, removing and reversing vendor debits

There may be times when you want to view a vendor debit before or after you’ve applied it or received a refund check for it. AccountEdge allows you to easily find the vendor debits you’ve entered into the system.

Note: You can still use the Inquiry Register to find vendor debits

 You may want to use the Inquiry Register if you’re searching for specific vendor debit. There are more detailed search methods available to you in the Inquiry Register than in the Purchases Register.

There also may be times when you want to remove or reverse (“unapply”) a vendor debit that you mistakenly applied to a purchase, or when you want to remove a refund check you received from a vendor. When this is the case, you can quickly remove the effects of such a transaction from your records. An important point to consider is whether the vendor debit is changeable or unchangeable. If the transaction is changeable, you can make changes or remove the vendor debit altogether from your ledger.

Unchangeable transactions work differently. By reversing an unchangeable vendor debit, the effects of the original will no longer be part of your ledger; however, a record of the reversed vendor debit, called a reversing transaction, will remain. Then, if you want, you can enter a new, correct transaction to replace the transaction you reversed. See What are changeable and unchangeable transactions? for more information.

If you notice a problem with a vendor debit you’ve already settled, you can’t simply change the debit. You’ll need to first unapply the debit -- remove (or reverse) the refund check, then re-apply the debit or record a new check.

Click below for a step-by-step procedure:

To find a vendor debit before it’s settled

To find a vendor debit after it’s applied

To find a vendor debit after you’ve received a refund check for it

To remove an applied vendor debit or a vendor’s refund check

To reverse an applied vendor debit

To reverse a vendor’s refund check

Vendor Debits Overview