Posting a transaction using credit from a vendor

[CCSBA]

I have Powerchurch 9+. I have a vendor that we have $300.00 in credit. For the month we purchased materials that used $60.00 of that credit, so there is no need for a check to be issued to the vendor. What are the steps that I need to go through in order to correctly enter this transaction?

[Matt]

Enter a credit invoice in Maintain Open Invoices for the $300. Then enter a debit invoice for the $60. The program will not print out a check until the total of the debit invoices exceeds the credit invoice amount, at which time the program will print out a check for the net amount.

[CCSBA]

I entered the credit invoice & the debit invoice in Accounts Payable and the program still will not let me post these invoices, because a check was not printed. It is showing a credit balance in the vendor records. When I entered the credit invoice the total amount for the invoice was a negative amount, but the amounts that were posted to the accounts were positive. I hope that is correct. I didn't think that I should put in negative amounts because the debit and credit should take care of that. What am I doing wrong?
Thank you for your help! I really do appreciate it!

[Matt]

You will not be able to post the invoices until there are enough dollars on the debit invoices to offset the credit invoices and you cut a check. If you have default accounts set up on the vendor the accounts debited and credited will be the opposite of normal when you enter a negative invoice amount. From your description of things you should be ok.

[CCSBA]

Matt,

THANK YOU! THANK YOU! THANK YOU![/list]