How to process Vendor Refund Credit Notes


Goods have been received and the invoice has been paid.  But then the goods were returned to the vendor and they issued a credit note.  How do we process the credit note so it could be applied to future invoices?



1- Issue a PO Return for the goods returned.  You will need the original PO Receipt number at this point. This will adjust the cost and quantity of your item in inventory. 

2- Issue a PO Credit Note Referencing the PO Return's document Number.

3- Run Day End. This will force the PO to create a batch in AP Transactions - Invoice Batch List. The Description of this batch will be "PO Generated batch"

4- Post the PO created batch in AP. This AP Credit Note will sit on the vendor's account and can be applied to any future invoices. 


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