credit to a vendor

Question

Hello need some help please! 
 I accidently paid a vendor bill twice and im trying to do month end on my books but i need to add the credit so it shows on my bank statement. 
 Not sure how to get that credit to show up. 
 
 Thanks

Richard S. Ridings · Answer

Unfortunately we don't really have enough information to help you out. I think I know what you are looking for but I could be wrong. 
 The word "credit" has so many definitions based on the person's perspective at the time of saying it so it's hard to tell. 
 Are you trying to post the second payment and therefore wish to credit the bank account again? 
 Did you get a refund of the double payment and therefore wish to put in a Vendor credit indicating you owe them less? 
 etc. 
 Assuming you mean the first one and wish to post the payment only to show an amount went out of your bank account, I would go to Payments, select the Vendor, the date of the payment (assuming it was a hand-written cheque it would likely be dated before it came out of the bank account), the cheque number, click on the Enter Vendor Prepayments button on the Toolbar is the Prepayment Amount field is not showing and enter an applicable Prepayment Reference and Prepayment Amount. 
 Select the correct bank account if it is not already selected, make sure the journal entry you are looking for is correct, then Post. Check your reports to make sure they are correct. 
 If any of my stated or not stated assumptions incorrect then the some or all of the above is likely not correct either.

Richard S. Ridings · Answer

My main assumption is then correct. Just enter the appropriate information as you normally do for an online payment when you enter the Prepayment instead of a cheque number.

Richard S. Ridings · Answer

You didn't indicate the supplier gave you a credit note so I didn't suggest that. You only indicated you made two payments and your concern was to show the second payment so (I assume) you can do a bank rec. I am making a lot of assumptions because I don't have all the information and some of your request doesn't make sense. For example, 
 Brendawelder said: i need to add the credit so it shows on my bank statement 
 Technically the only way to make something show on your bank statement is to make sure it clears the bank during the period of the statement. I would have thought this whole issue started because it shows on your bank statement as a second payment. So I made the assumption you wanted to see this second payment on your bank ledger and bank rec module in Sage 50 so you can do a bank rec. 
 If you wish to and you subscribe to the Credit Note feature of the current versions of Sage 50, then yes you can post a credit note. 
 You can enter it as a negative invoice if you don't have Credit Note feature capabilities but that results in the same journal entry and roughly the same vendor historical reports as I suggested. 
 Does the method I suggested not result in the journal entry you want? Debit Accounts Payable and Credit Bank is what I suggested above using the Prepayment feature. 
 If not, what journal entry do you want? And how do you want to see it in the reports (please state which report(s) and how you want it to show up)?

Sage 50 Canada

credit to a vendor

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