Vendor Credits - Overview

Vendor Credits are credits that you receive from your vendor as an equivalent of the amount that they owe you. Using the Vendor Credits module in Zoho Spend, you can track this amount until it is paid by the vendor, refunded, or applied to other bills of the vendor. Let’s see how Vendor Credits work in Zoho Spend.

Statuses of a Vendor Credit

A vendor credit in Zoho Spend can be in one of the following statuses:

• Draft: Vendor credits that are created but not active will be in the Draft status.
• Pending Approval: If Approvals is enabled for the Vendor Credits module, vendor credits submitted for approval will be in the Pending Approval status.
• Open: Active vendor credits will be in the Open status.
• Closed: If the amount in the vendor credit has been completely applied to the vendor’s bills, the vendor credit will be in the Closed status.
• Void: If a vendor credit is no longer active, it’ll be in the Void status.