How to Add a Vendor Credit (credit an owner)

Do you need to record a credit from a vendor or give a credit to an owner from the property management company? This article will show you how.

Vendor credits allow a Portfolio/Property/Unit to receive a credit from a vendor. The vendor can be the Property Management company or any of the vendors that you work with. The idea is that the Portfolio Property/Unit already paid a bill to the vendor in the past. Then the vendor may realize that they were overpaid or they just want to give a credit back to the Portfolio/Property/Unit. If that is the case, a Vendor Credit can be created.

That credit can then be used to fully or partially pay for any other unpaid bills due to that vendor from the Portfolio/Property/Unit. The credit cannot be used to give the Portfolio/Property/Unit a cash refund. It can only be used to pay for any other unpaid bills due to that vendor from the Portfolio/Property/Unit. The vendor credit acts as a refund in the sense that it reduces the amount owed by the Portfolio/Property/Unit to the vendor, but it cannot be received as cash. It can only be used to pay other bills owed to the same vendor


  • From the navigation menu click on Accounting and then select Money Out.
  • Click on the green Actions button and select Add Credit from the dropdown.

  • Enter the details below on the Add Credit form
    • Credit From - Who is the credit from.
    • Date Posted - Enter the appropriate date.
    • Credit to Portfolio/Property/Unit - Who is receiving the credit.  You can choose the portfolio, property or unit.
    • Account - Select the appropriate Chart of Account. 
    • Amount - Enter the amount to credit.
    • Description - Enter text describing the reason for the credit.
    • Click on Add Credit button if you want to enter an additional credit from the same vendor.
    • Click Save

      Example of an owner credit from a vendor for a painting job, note that a Painting Chart of Account was selected.

      Example of an owner credit from the management company for management fees, note that the Management Fee Chart of Account was selected.


The ledger tab of a portfolio shows a Credits balance to let you know if a portfolio has any credits available. 

Credits can be used to reduce the amount to pay a bill to the same vendor from the same portfolio. See step #3 in the Pay Bills article on how to use the vendor credits to pay for a bill.