Credit entries will automatically be created by Jim2 when:
▪A return to vendor is finished.
▪A negative expense PO has been finished. These are used for non-stock or expense-related credits.
▪A payment or prepayment has been made, but not applied to a purchase order.
▪The amount of the payment is greater than the amount due/owing.
▪A creditors contra is added from a corresponding debtor account.
▪A creditors adjustment down is entered
A return to vendor credit will need to be applied to an outstanding invoice, or left as an outstanding credit in that vendor's creditor record.
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Creditors adjustments down may be used to move transactions between creditor accounts, eg. a payment has been recorded against the wrong creditor record and the payment cannot be cancelled because it has been reconciled in a bank reconciliation. See Creditors Adjustments Up and Down for more information. |
Further information: