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Working with Supplier Credit Notes

The Supplier Credit Note (sometimes referred to as a Credit Memo) can be used in four ways:

  1. Your Supplier allows you to purchase goods or services for the amount specified on the Credit Note on a future date.
  2. If you have paid a Bill containing an incorrect amount to your Supplier, effectively an overpayment.
  3. When returning goods to the Supplier. A Supplier Credit Note is used to adjust your accounts accordingly.
  4. If unhappy with some or all of the products and services you have been billed for, a Supplier Credit Note for the amount both parties agree to, can be deducted from the original Bill.

NOTE:
A Supplier Credit Note Document is not issued to the Supplier. It is used to record the transaction on your system. This ensures you have a record of the credit, and that your accounts are correct.

Prerequisites


Entering Line Items
Working with Transactional Documents
Working with Items

How to create a new Supplier Credit Note

See Creating new Transactions and Entering Line Items for the basic information.

A Supplier Credit Note can be created directly from the Supplier or from a specific Bill.

  1. While viewing the supplier, or viewing the bill, from the ‘Actions’ dropdown, select the’ New Credit Note‘ action.
  2. This will create a ‘New Supplier Credit Note’ Document.

See Creating related Documents.

Also Read About


Configuring Transactional Documents
Entering Billing/Shipping addresses
Creating related Documents
Working with Payments to Suppliers (Money Out)
Working with Supplier Refunds
Printing Documents
Working with Emails
Transaction Audit Trail
Working with Jobs
Working with Memos
Working with Classifications