Vendors that owe you a refund will sometimes send credit memos for you to use at your discretion. The process is almost identical to entering a vendor invoice. The main difference is that the account payable lines will be entered with negative values. If the amount of the account payable is negative, the invoice type will automatically switch to credit memo. 
 
 
 
Summary of steps:
  1. Create a negative Account payable
  2. Click the "Apply credit Memo button
  3. Apply to open Accounts Payable

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