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Working with Supplier Refunds
A Supplier Refund Document is used to record your Supplier returning money that is directly related to purchasing activity.
When returning an item to the Supplier that was cash purchased, this document would record the transaction.
The Supplier Refund Document records:
- The return of the item(s) to the Supplier;
- The corresponding amount of money you are paid back (i.e. refunded);
- The method used to make payment (Cash, Check, Card etc);
- The destination bank account the refund will be paid into.
How to refund a Credit
To convert an outstanding Supplier Credit Note or credit balance to cash, you must create a Supplier Refund.
This could be applicable if:
- you have overpaid a Supplier or
- returned goods to the Supplier.
- Raise a Supplier Credit Note to adjust the Supplier’s balance in Accounts Payable (Purchase Ledger)
- Then receive payment for the amount of credit you have applied in cash.
A Supplier Refund Document is typically not issued to the Supplier. It is used to record the transaction. This is to ensure you have a record of the refund, and that your accounts are correct.
How to create a new Supplier Refund
A Supplier Refund can be created either from a Cash Purchase, or alternatively from a Supplier Credit Note.
Follow the usual procedure for creating a related Document detailed in Creating related Documents.
Also Read About
Configuring Transactional Documents
Entering Billing/Shipping addresses
Creating related Documents
Entering Payment Details
Working with Payments to Suppliers (Money Out)
Working with Emails
Transaction Audit Trail
Working with Jobs
Working with Memos
Working with Classifications