This is the way we handle the credits.  I always ask the vendor/publisher
issue us the check if it is possible. If they can't, we will receive their
credit memo.  Since we do not have that many credit memos, the accounts
payable staff keeps them in a file and apply them when she pays the
invoice.  I also set up a code ($) in the order records to indicate that
we are waiting for credit or refund.  At least every six months we run a
review file and pick up the ones which we have not heard from them.

Janet

At 11:49 AM 1/16/02 -0500, Buddy Pennington wrote:
>Hi all,
>
>How do you keep track of vendor credits?  We receive a flurry of statements
>from various serial vendors for credits and I am having a tough time keeping
>track of the amounts.  Do you apply credits to future invoices, get checks
>issued to you etc.?
>
>Does anyone out there use software to keep track of this (Excel, Access)?
>How do you have it set up?
>
>Buddy Pennington
>Document Delivery Librarian
>Kansas City Public Library
>md_buddy@kclibrary.org
>816-701-3552

************************************************************************
Janet H. Lai                                    Tel:    (310) 338-3088
Head, Acquisitions/Serials Dept.                Fax:    (310) 338-4366
Charles Von Der Ahe Library                     E-mail: jlai@lmu.edu
Loyola Marymount University                     URL: http://lib.lmu.edu
One LMU Drive, MS 8200
Los Angeles, CA  90045-2659
************************************************************************