How To: Enter a Supplier Credit and Refund it

To enter and refund a credit note from a supplier is a two step process as follows:

Step 1: Enter the Credit Note into the Supplier's Statement Tab

  1. Open an Accounts screen (show me how).
  2. Open the [ SP Ledger ] tab.
  3. Press Alt+E or click the green triangle icon is the buttonbar's EDIT button to enter edit mode.
  4. Press F3 or click the NEW ITEM button has an icon that shows two sheets of paper (identified by having the top right corner folded down), arranged diagonally on the icon from top left to bottom right to add a new item.
  5. Use the Lookup dialog box to locate the supplier that you wish to post an invoice transaction against. A new row is added to the grid for the selected customer/supplier.
  6. The following SP Ledger options must be set:
    1. Crd: must be TICKED as this will mark the SP Ledger entry as a Supplier Credit.
    2. S/P: must be set to P to indicate a Purchase ledger entry.
  7. Enter the appropriate details (Net, Tax, etc.) paying particular attention to the following columns:
    Post: if this checkbox is:
    TICKED (default): If you have already received the Supplier Credit note.
    UNTICKED: If you have not yet received the supplier credit note and allows the transaction to be posted later.
    Pay: this option must not be ticked.
    N/C: nominal account to post entry against.
    Other columns are:
    Conversion Rate: change the conversion rate if required (Optional).
    InvDate: the date of the invoice.
    Note: if the invoice date is today's date then a warning message will appear.
    Tax: the VAT rates as defined in System Data. Use the "Exempt" VAT Rate if you do not wish the system to attempt to reclaim VAT. When entering a VAT invoice issued in another EC state, you should be prompted to confirm that VAT can be reclaimed.
    Description: used to describe what the invoice was for (Optional).
    Status Note: can be used to track invoices that require approval from various departments prior to posting (Optional).
  8. Press Ctrl+S or click the disk icon is the button bar's SAVE button to save the transaction.
  9. If the credit for today's date click on Yes in the warning message.
  10. Click on OK in the Information popup.

Note: if you are adding an entry for an EC supplier see How To: Enter a Supplier Credit Note for an EU Supplier.

Step 2: Refund the Credit Note

  1. Open a Supplier screen (show me how).
  2. Go to the [ Statement ] tab.
  3. Focus on the credit note in the Statement Transactions grid.
  4. Right-click and from the Context menu select [Refund - Refund Credit Note or Payment (manual)].
  5. In the Manual Refund Dialog:
    • Check the Amount.
    • Select the Type.
    • Select the Bank for the payment.
    • Enter the Auth Code if refunding a credit card payment manually.
  6. Click on 'OK'.
  7. In the Confirm popup click 'Yes'.
  8. The Source and Other Ref columns will show the entry as a 'Refund'.

See Also

Did you find this article helpful?