Vendor Credit & Payment Voucher

Vendor Credit

When you need to purchase from a vendor but you plan to make payment in installments or pay later, you need to use vendor credits. You will have to add vouchers against that credit to forfeit it.

Navigate to WP Admin Dashboard → WP ERP → Accounting → Expenses Select Vendor Credit.

After selecting Vendor Credit, you will be able to see a page to credit a vendor. Click on the Submit for Approval button after filling out all the necessary fields.

When you hit the Submit for Approval button you will be able to see the invoice for vendor credit. Here is a screenshot:

Later when you wish to pay your vendor, you can click on the Add Payment button to reverse the transaction that is to make your vendor debit from credit to neutralize the account.

Payment Voucher

Payment vouchers are the direct payment to vendors. Vouchers are also used to compensate credit. In nontechnical terms, when you want to pay your vendor on cash, use this method.

Login to WP Admin Dashboard → WP ERP → Accounting → Expenses → Select Payment Voucher.

If you click on the Payment Voucher button, you will get a Payment Voucher form to fill out. After filling out the fields with all the necessary data click on the Pay button to pay in cash.

On hitting the Pay button, you will get the Payment Voucher right away! You can even print out the form if you want to.

Was this article helpful to you?

How can we help?