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To record the receipt of a credit note from your supplier, the credit note details are entered and matched to the relevant purchase returns.
A credit note can be matched to several purchase returns where applicable. Depending on which option you have selected for matching invoices and credit notes on the Order Processing tab of the POP settings, you can use:
Note: As service/labour items and free text items are not subject to despatch you can only perform a two-way match for such items.
Selecting the supplier:
All items that have been recorded for return to that supplier are displayed by return number, regardless of whether the return is on hold.
Note: You cannot record a credit note for a supplier if the supplier's account is on hold.
Checking the credit note has not already been recorded:
This is an optional activity but it is particularly useful to prevent recording a credit note twice. By entering the credit note reference and date the system checks for an existing record by matching this criteria. A warning is displayed if an existing record is found.
Entering credit values:
Enter returned goods value and tax value, which represent the total credit note value. This is optional. It is intended to provide an additional control when entering credit note values. The system checks the total goods value and tax value match the cumulative values of the goods confirmed as credited.
Marking the goods and/or services as credited:
Select the item and accept or amend the expected credit quantity or item price. These are derived from the purchase return. If you are using a three-way match, you have the option to select a despatch for the item and mark it as credited, this also marks the associated item as credited (item types stock and miscellaneous only).
Record Credit Note:
Once the Credit Note details are saved, the Enter Purchase Credit Note window is displayed. You can use this to amend the tax values, nominal accounts and take care of any rounding discrepancies. The exception is the exchange rate, which cannot be amended.
Note: Price and credit values are displayed in the supplier's currency.
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