Notifying Vendors of Credit Applications

The following credit information is available in MineralTree:

  • Total open/available balance of credits (visible on the Dashboard)
  • Open/available credits by vendor (visible on the Invoices tab, Invoice Details, and Vendor Details)
  • Applied credits (visible on the Invoices tab and Invoice Details)

Reviewing Credit Applications in MineralTree

The application of all vendor credits to invoices is completed in the Accounting System. When credits are applied to invoices, those details sync to MineralTree. 

View available credits and applied credits from the Invoices tab, or the Vendor and Invoice details. 

When credits have been applied, the remaining open balance on the invoice is reflected on the Invoices tab. The original invoice amount is displayed on hover.

Credit applications in the Payment Details

The payment details reflect both the invoices and credits included in the payment.

Credits on the Vendor Remittance Email and Check Stubs

Credit applications are automatically reflected in the vendor remittance email and on the check stub when invoices are paid. 

$0 Credit Payments

When the remaining amount of an invoice is reduced to $0 entirely by a credit, companies have the option to notify vendors that the invoice has been fully applied by a credit and that no payment will be sent. When this feature is enabled, users see $0 invoices appear in the Invoices tab when the remaining balance has been reduced to $0. These invoices are added to the payment queue and submitted following standard workflows. Once approved, no payment in generated. Instead, an email remittance is sent to the vendor notifying them of the credit application and subsequent closing of the invoice. View this article for more information about this feature.

To learn more about applying credits in the accounting systems, view these articles:

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