When returning goods to a vendor the vendor charges return freight and/or restocking fees. Need to know how to properly enter the documents into Sage 300.
This is a 2-step process. The first step is to record the full return of the goods.
Go to Purchase Orders -> P/O Transactions -> Return Entry. Enter in the vendor number and receipt number. Fill in the quantity returned field for the items that are being returned and press the Post button. This takes the item(s) out of inventory along with the full cost of the item. Next go to Purchase Orders -> P/O Transactions -> Credit/Debit Note Entry. Enter in the credit note number from the vendor, enter the vendor number, and ensure document type is set to Credit Note. Select or enter the Return Number to populate the details. Confirm all values are correct and press the Post button. This will process a credit note for the full value of the item, which is not (yet) the adjusted value with the restocking fee.
The second step is to record and apply the restocking fees. There are 2 options for this step:
- In PO Credit/Debit Note Entry, create a new document by pressing the new button at the top of the window, and enter a document number. This will be an internal number that the user will make up. It may be beneficial to use the vendor's credit note number with a -1 or -a on the end (to make it unique.) Set the document type to Debit Note, and enter the original invoice number from the original receipt of the item(s). Delete all items from the detail grid. Go to the Additional Costs tab, and enter in the additional costs of restocking fees and/or freight. (If these additional costs do not already exist go to Purchase Orders -> P/O Setup -> Additional Costs and create them.) Check the Totals tab to ensure the document total for the freight charges and/or restocking fees is correct. Post the debit note. After day end processing is done, both the credit note created in the first step, and the debit note created in the second step will be in AP. Apply the debit note to the credit note, and this will leave the balance of the credit note as the actual balance from the vendor.
- After day end processing the credit note created in step one, for the full amount of the items returned, will be in AP. Before posting this credit note in AP, edit it by inserting one or more detail lines for the restocking fees or freight charges. Enter the GL account number these charges should be applied to, and enter the value as a negative. This will reduce the amount of the credit note to the actual amount per the vendor document. Post the adjusted credit note.