Supplier Refunds
Mary Boyd
Member Posts: 2 ✭
I need to record the tax code when receiving a supplier refund but this does not seem to be available through the make a deposit section. Can you tell me why this does not occur and how I can record the tax.
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Comments
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You need to go into the Enter Bills screen and change the setting from Bill to Credit. Enter a credit for the supplier (this is where you can use the tax code) and then save and close.
Record the deposit of the refund using the Make Deposit screen. Enter the supplier's name in the first column and the Accounts Payable in the account column. Save and close.
To match the credit to the refund, go the Pay Bills screen and tick the deposit in the list of bills to pay, then click on the Set Credits button to select the Credit entered. Click Done and then Pay Selected bills, which should have a zero amount anyway0 -
Hi Mary - what I do is raise a Bill Credit for the Supplier - allocate it to the correct line/item, pick up the correct tax code etc... then when the refund comes into the bank account - I enter via Make Deposits - where the Received From is the Suppliers Name... the From Account is your Accounts Payable account - then the amount is entered... I then go to Pay Bills and apply the Deposit to the Credit Note... all done, neat and tidy.. hope this helps Regards Linda0
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Hello Linda
Has the ability to apply a deposit to a supplier adjustment note been disabled in the lastest update?
We used to be able to do this but no longer can, very annoying.
A payment we made to a supplier had the incorrect details and the bank returned it to us, you may have a better way to deal with these two transactions?
Thanks in advance,
Maria0
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