How To: Enter a Supplier Credit Note


WARNING icon
WARNING: SP Ledger Supplier Credit should NOT be used if stock is being returned -
if this is the case Supplier Returns should be used.

The SP Ledger is used to enter payments made for miscellaneous expenses, such as utility bills, petty cash items (e.g. stationery, etc); it can also be used to enter non-stock related credit notes for a supplier (e.g. brokerage andpromotional allowances).

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

  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.

See Also


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