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Evo-ERP and DBA Classic >> Accounting >> AP-C Credit Memos
http://www.istechforum.com/YaBB.pl?num=1118696213

Message started by friske13 on 06/13/05 at 12:56:53

Title: AP-C Credit Memos
Post by friske13 on 06/13/05 at 12:56:53

Has anyone had experience with posting a vendor's credit memo that would effectively reduce an inventory item's cost?

We have had several instances where I have already posted a PO related invoice, then we get a credit memo from the vendor that needs matched to that same PO!

Title: Re: AP-C Credit Memos
Post by lmk223a on 06/14/05 at 03:58:14

Is the vendor credit for a price adjustment only or was material (inventory returned) for credit?

AP-C does allow for an invoice to be revised - if it is a price only adjustment, one suggestion would be to revise the original invoice amount for the credit issued (this assumes the original invoice has not been paid).

If inventory has been returned and the vendor has granted a credit. then the subject purchase order has to be revised to show a negative qty amount being returned to vendor. This negative qty has to be received against the po (PO-C) and then the credit appears in AP-C to which the credit memo can be applied.

Title: Re: AP-C Credit Memos
Post by friske13 on 06/20/05 at 13:46:28

Thanks, Imk223a........

I have done as you suggested when the invoice is not yet paid - reduced the original invoice amount by the amount of the credit...........but, I don't like that there is no way to track the vendor's credit memo in DBA that way.

And returns of inventory items I can deal with too - it's the credits that come in after the original invoice is paid..is there a way to post the credit to reduce our cost of the inventory item(s) affected??

Title: Re: AP-C Credit Memos
Post by Lynn Pantic on 06/20/05 at 14:56:52

Not an easy one but yes. Create a PO with 2 lines - a negative at the incorrect price and a positive at the correst price. Receive both lines and the net result to AP-C will be a credit but you will have to enter it in 2 parts if the net is negative. Enter an invoice for the positive and a credit for the negative. That will pass the net credit amount to AP.