Refund from Supplier

Blowback

Hi All,

Have a problem with this.

A supplier whom we no longer deal issued a credit note for 130.00 for goods returned.We requested a cheque for this amount as we no longer require their services and will not be making any further purchases on the account

How do I post these tranactions as the credit note puts the supplier balance to -130.00 and we are then receiving cash from that supplier also?


Your help would be great (using Sage Commercial).

many thanks.
Blowback

Cordner

Hi- am I correct in saying you have recieved a credit note AND a cheque?

Either:

Post the cheque as rec'd to your cash/bank a/c- and credit the expense code that was originally debited when you purchased the goods.

The supplier a/c will show an invoice, paid in full. But your 'expense' code will show the discount, and your cash/bank a/c will show the cheque rec'd.

OR

Post the credit note on to the supplier, thereby showing that you have overpaid them. Then post an Invoice on to the supplier a/c for the €130- but the debit/expense of this invoice will actually go to your cash/bank a/c as cheque recieved.

Hope this makes sense!!

Blowback

Cordner,

Many thanks for your help.

Got confuaed as we received both the credit note and the cheque.

Regards.