NetSuite - Vendor Credit (VRA / Vendor Return Authorization)

Vendor Credit in NetSuite 

If the vendor needs to credit back money to a property, they send that information to the Accounts Payable team the same way they send their bills. These credits are called Vendor Return Authorizations (VRA). The Accounts Payable team processes the credit and then sends the VRA to the property to code and submit for approval.

If a statement of credit is received by the property, send it to [e-mail]. It will be routed through NetSuite and appear on your dashboard for coding and approval.

When you first view a VRA you will notice that it is a positive amount. However, because it is a VRA, the AP team knows to deduct this amount from the vendor check.

To add a Vendor Return Authorization:

1. On the NetSuite dashboard, scroll to the bottom of the page and use the shortcuts or reminders to access VRAs for Lowes or other vendors. 
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   • You can also view the list by going to Payables & Projects, then Vendor Credits, then Vendor Return Authorization List.
     
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   • Note:NetSuite automatically assigns a credit memo number to each VRA which will not match the number provided by your vendor. You will need to search the Vendor Returns Authorization List to find any VRAs associated with that vendor.
     
2. Click Edit to open the VRA you wish to code.
   
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3. On the VRA screen, confirm that the vendor information is correct, and that the dollar amount matches what is shown in the attached image. Ensure that you are listed as the coder.
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   • NOTE: Lowes VRAs do not have an attached image of what items are being credited back to Sun. Instead, scroll all the way to the right of the Coding tab to see the list of items and their description.
     
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4. In the Coding tab, click the Expense Type to choose the category that best fits the item use.
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5. A coding popup will appear. Select the Item Type that best fits the item, then click Submit.
   
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6. Repeat this for each item listed in the Coding tab. When you have coded all of the items, click Save.
   
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7. Once all information has been updated and coding is done, click Submit for Approval.
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   • If the VRA is under your profile’s spend limit, the VRA will be approved and the VRA is updated to a Credit Memo on the vendor’s account. 
     
   • If the VRA is higher than your profile’s spend limit, the VRA will go to the level of approval needed to review the bill, such asPending Supervisor Approval. 
     
   • You can see who needs to approve the VRA next in the Next Approver field. 

Once the VRA has been approved, the AP team will take care of applying the credit. It will be deducted from the next payment to the vendor as long as the vendor has a positive balance.

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