Reconciling a Vendor Credit

When you receive a vendor credit, you can reconcile it with the expected credit to determine your profit or loss.

To reconcile a vendor credit

1. From the Vendor menu, select Nat’l Recon Codes & Credits. The Nat’l/Recon Codes/Credits screen appears.

2. Select the reconciliation code for the vendor who issued the credit, and click Recon. The National Credits screen appears.

3. Retrieve the invoice associated with the credit:

Click Invoice and type the number of the invoice you want to view. For a specific invoice, make sure the Exact Match check box is also selected.

Note: When the check box is clear, TireMaster retrieves all documents whose invoice numbers begin with the first number or numbers entered in the Invoice field. In this scenario, typing the number 23 would retrieve invoices #233, #234, and #236.

Click Start Date and select or type a start date.
Click Claim and type the claim number from an adjustment invoice or the reference number from a national-account or government-support invoice.

Note: To display processed credits along with those that have not been reconciled, select the Show Processed check box.

4. Click Query. All available credits for the vendor appear.

5. Fill in the following information for the credit you want to reconcile:

Memo#: This number should appear on the vendor credit memo you receive.
CR Date: This date is when the credit actually posted.

Note: When you type the date, put slashes (/) between the month, day, and year. Also, type all four digits for the year.

CR Amount: This value should be the actual credit amount not including any commission.
CR Com: This value is the actual commission you receive from the vendor.

6. Click Process Credit on Selected Line.

7. Click Yes to confirm that you want to complete the credit memo.

Note: The letter P is displayed in the P column for credits that have been reconciled. To display reconciled credits, select the Show Processed check box.

8. To close the National Credits screen, click OK.