Summary
Description
Return goods or cancel a bill by creating a credit note from the original bill. Create a stand-alone credit note and allocate it to outstanding bills later.
Before creating a credit note, ensure you have a contact record for your vendor. Regularly purchase the same products? Create records for these products.
Resolution
To create a vendor credit note from a bill
The credit note appears with the same details as the original bill.
- Go to Expenses and click Vendor Bills.
- Click the bill you want to credit.
- Click Add Credit Note.
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Change the details if necessary.
NOTE: The credit note total appears at the bottom.
- If this is a draft credit note, select the Save as draft check box.
- Enter any notes if required.
- Click Save.
If the credit note covers the full bill value, the status appears as Paid; otherwise, it appears as Part Paid.
To record a stand-alone vendor credit note
- Go to Expenses and click Vendor Bills or Vendor Credit Notes.
- Click New Credit Note.
- Enter the following information:
- Vendor: Enter the vendor name. Select from the list that appears
- To add a new vendor, click Add a vendor, enter the information and click Save
- Credit Date: Enter the credit note date
- Vendor Reference: Enter a reference such as the credit note number
- Reference: Enter any additional references or details
- Product: Enter the product name in the Search for Product field and choose the product
- To add a new product, click Add product, enter the information and click Save
- Description: The description for the credit, for example the items originally purchased
- Ledger Account: Choose the ledger account
- Qty/Hrs: Enter the quantity of items the credit is for
- Price/Rate: Enter the net value of the credit
- Total: The total gross value
- Vendor: Enter the vendor name. Select from the list that appears
- If you’ve created transaction analysis types, for example departments, click the Finder (arrows icon, to the right) and choose the relevant analysis category.
NOTE: To save as a draft, select the Save as draft check box. When ready to update ledgers, open the draft credit note, make changes, and clear the Save as draft check box
- Enter any notes if required.
- To attach a file, click the Attachment button, click Upload files, browse to and double-click the file.
- Click Save.
The credit note remains outstanding until allocated to a bill or refunded by the vendor.
To manage an existing credit note
- Go to Expenses and click Vendor Credit Notes.
- Click the required credit note.
- If stand-alone, edit the information. Follow the previous section's instructions. If allocated to another transaction, you can't change it.
Note: You can record a refund or change the status to Set as Disputed. Disputed values remain in your accounts. To clear the dispute status, click More and then Clear Dispute.