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Evo-ERP and DBA Classic >> Accounting >> Posting reimbursement from Vendor
http://www.istechforum.com/YaBB.pl?num=1224086439

Message started by Irma on 10/15/08 at 09:00:39

Title: Posting reimbursement from Vendor
Post by Irma on 10/15/08 at 09:00:39

This is my first time using this forum and do not know how it works but I have a question that I need help with.

We received check from VENDOR's reimbursement (no customer). What is the procedure to post this transaction? A/P and cash have to be posted but apparently the systme only takes "payments" from custmers. Please advice.

Thank you

Irma

Title: Re: Posting reimbursement from Vendor
Post by Lynn_Pantic on 10/15/08 at 10:44:48

Not a very streamlined process but here is what you have to do.

1. Presumably you already have a Credit on the AP Aging for this vendor and this is what is being reimbursed. Use AP-B and enter a Voucher for the same amount. Post the GL to any account you want but remember where you posted it. This will Credit AP and Debit the offset account.
2. Use AP-F/G/H and pick the credit and voucher to pay and generate a dummy $0 check to clear the aging. No GL impact from this step.
3. Use GL-B and enter a Cash Receipt (Type 2) Journal, debiting Cash and crediting the account used for the offset in step 1. This will offset the posting from step 1 (which is why it made no difference what account you used) and debit Cash and make a Deposit entry to the Check Register. Final net GL posting is to Debit Cash and Credit AP.

Title: Re: Posting reimbursement from Vendor
Post by EMI Ann on 10/16/08 at 07:36:05

In Sales, there is AR-M, customer refund. How about adding something like that as Vendor refund in one of the accounting menus? However, the only times I've had a vendor give me money back is for things that I did not have a credit for, like some sort of rebate. Then I've used AR-B, created a customer with a customer code that is the same as the vendor code, and used a gl code for whatever the vendor's default gl code is (office supplies, or shop supplies, or whatever).

Ann Luce
EMI Filter Co.