Vendor credits are credits issued to a company by its vendors when they owe money to the company.
Let’s say Company A orders certain products and makes an advance payment to its vendor. But, after receiving the products, the final bill amount turns out to be lesser than the advance paid. In such a case, the vendor can retain the remaining amount and issue equivalent credits to the Company A. This is called vendor credits.
Available in all mobile platforms
© 2024, Zoho Corporation Pvt. Ltd. All Rights Reserved.Books
One solution for your accounting and GST filing needs