Easily enter and keep track of supplier credit notes with Win Accounting's smart Creditors Control
Once a credit note is received from a vendor, enter the document details into the Enter and Post Transactions section to keep your accounting data accurate and up-to-date
Supplier credit notes can be issued by a vendor to indicate a return of goods, noting that your account with them has been credited by the specified amount
A supplier credit note essentially acts as a negative invoice, and can be issued by a supplier in various situations to correct a mistake, such as when:
- The invoice amount is overstated
- The correct discount rate is not applied, or is only agreed upon after invoice has been received
- Purchased supplies spoil within a guaranty period, or are returned for a full or partial refund
Credit Notes act as an informational document for recording purposes, with their data being fed into an array of accounting reports - aiding you in better visualising your business data
Once your desired Enter and Post Batch has been selected/created, you can begin entering transactions
Transactions will appear as follows on your Win Acc Accounting Reports:
Credit Notes = C
Invoices = I
Payments = P
Settlement Discount = S
Enter and Post Credit Note:
Select Credit Note and Insert
Enter a Credit Note by selecting the Credit Note Transaction type
Once Credit Note is selected, click Insert to enter credit note details
General Credit Note Details
As with an Invoice Transaction, begin by entering or selecting the desired Creditor Code, Transaction Date, Aged Date and Document Number
You also have the option of adding a C/N Reference
Choose if credit note line items should be VAT inclusive or exclusive by default and set the Default VAT and Purchase Codes
Insert the corresponding Supplier Invoice Number for the relevant Credit Note
This will locate the relevant Posted Invoice and display the current value of said document
Note: All defaults set here are designed to speed up the Enter & Post process, although defaults can be modified on-the-fly per line item, should it be required
Adding Line Items
When Inserting Line Items, defaults inserted in the General Credit Note Details window will automatically populate the line item details
Enter the Line Item total, review the VAT and Purchase details and click "Ok" to add the line item
Reviewing Line Items
Review the Total Excluding VAT, Total VAT and Credit Note Total quickly and easily for the desired Invoice
Update or Modify a line item with ease by double clicking it, or highlighting the desired line item and clicking the "Change" button
Once line items have been added, click "Ok" to add the credit note to the selected Batch and proceed with additional transactions
