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Evo-ERP and DBA Classic >> Accounting >> Vendor Refund
http://www.istechforum.com/YaBB.pl?num=1459447148

Message started by David Waldmann on 03/31/16 at 10:59:08

Title: Vendor Refund
Post by David Waldmann on 03/31/16 at 10:59:08

We returned some material to a vendor, and they issued a credit memo which we entered in Evo.

Several months later we have not purchased anything else from them and so they sent us a refund check.

What is the best way to enter this transaction?

The opposite of AR-M would be a handy feature.

Title: Re: Vendor Refund
Post by Lynn_Pantic on 03/31/16 at 13:11:30

It would be nice but hasn't been written yet. It is a several step process. Post a Cash Receipt in GL-B, debiting cash and crediting any other account. Then enter a voucher in AP-B for the same amount, debiting the same account you credited in GL-B (which is why it doesn't matter what account you choose). Finally, AP-F and use the credit to pay off the voucher and post as $0 ePay.

Title: Re: Vendor Refund
Post by David Waldmann on 03/31/16 at 13:20:18

Thanks!

I actually think I've asked this before but it's been so long I didn't remember what to do.

Title: Re: Vendor Refund
Post by Laura Oliver on 03/10/23 at 13:43:12

How to enter vendor refund check

Lynn_Pantic wrote:

Has the opposite of AR-m been written yet? I am looking for the ability to enter a vendor refund. An online vendor that we will never use again shorted our order. Rather than sending us the balanc e they sent us a refund check.

UGH!!! I just realized I need to unrecieve the PO as it was received in for the amount we ordered

Thanks,
Laura

Title: Re: Vendor Refund
Post by David Waldmann on 03/17/23 at 10:22:21

Funny thing - I have the exact same situation again today! And if Laura hadn't asked last week I would have forgotten that I have already gotten an answer...

;D

Title: Re: Vendor Refund
Post by David Waldmann on 03/17/23 at 10:47:15

Oops - just realized a wrinkle.

This refund is for material that was originally received on a PO, and then "received" on a Negative Qty PO which was attached to a Credit Memo.

I was thinking I could just use the GL account of the Inventory item for step 1 in GL-B, but then realized I don't understand one of the original instructions:

"Finally, AP-F and use the credit to pay off the voucher and post as $0 ePay."

The GL-B transaction does not reference a Vendor, unless I am missing something??

Title: Re: Vendor Refund
Post by Laura Oliver on 03/17/23 at 12:55:46

David Waldmann wrote:

I don't know if it's the right way, but this is how I've done it.
Enter an AP-B voucher to the vendor, using whatever GL account(s) originally used for the item returned. Then enter a cash receipt to your bank account (in GL-B) using the same account(s).
To reconcile, you have to "Pay" the vendor by selecting invoices/vouchers in AP-F. If you select just the credit and voucher a 0.00 check with *VOID* on it will print.

Lynn_Pantic wrote:

I ……. If you are receiving a check from a vendor, there must be a credit on their account in your AP Aging that the refund is paying off so you have to process through AP. You record the receipt of cash in GL-B as a cash receipt, debiting cash and posting the credit to any miscellaneous account. Then in AP-B enter a voucher posting the debit to the same expense account so they cancel out. Then use AP-F and pick the credit and voucher and process a $0 ePay. We will look into a less clumsy approach.

I successfully entered a Vendor Refund check by following the above instructions. I confirmed this was correct by printing Journal GL-D with the vendors code and date range. (note the GL-B code must also be the vendor code) yay! yay!

Thanks Everyone!!!

p.s. It is okay to resurrect
an old thread from 2005!

tag: how to enter a Vendor refund check

Title: Re: Vendor Refund
Post by David Waldmann on 03/18/23 at 05:17:26

OK, I got it now. It's been a very long week and I think I was just to tired to comprehend it...

Funny that I had figured it out myself almost 20 years ago ::)

Title: Re: Vendor Refund
Post by Laura Oliver on 03/24/23 at 11:03:19

Well you and I were both younger back then!