Ability to receipt AP Credit
Like AR Credits, it would be nice if we were able to receipt an AP credit that has been reimbursed by supplier
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Company
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Conset/Civilex
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Job Title / Role
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Financial Controller
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I need it...
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3 months
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Has there been any further progress on how to handle a supplier credit? I am unable to enter a negative invoice so cannot raise the credit
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An option is to enter a dummy invoice against the creditor for the value of the deposit and enter the dissection against the GL account of the bank account receiving the money. The transaction will have a 'C1' GST code. Then you process a zero-value payment against the Credit note and the dummy invoice so not record is left outstanding.
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Hi Alex,
I want to thank you for your contributions and sense of community in the suggestion box space. I have noticed a few of your comments.
Christine,
Also thank you for your suggestions of which I have seen a few come through. Your feedback really helps us build our road map and develop the product in a way that our user's want the product to evolve.
The Suggestion Box is up for review by the end of November and you can expect more feedback from the Jobpac Product Team.
thanks All... happy Jobpac Connecting!
Andrew
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If you don't use (or can't use) the pre-paid option mentioned above, you just create a dummy "invoice" using the post invoice. Change the transaction to have no GST, and the dissection goes to the bank account GL. This creates a debit in the bank GL for the refund receipt to be reconciled against (although being posted directly to the GL means it doesn't come up in a bank rec). Other side is a credit to trade creditors.
We usually give it a transaction number like REF171127 and a description like "Refund received 27/11/17".
You then can apply this "invoice" against whatever credits are outstanding. If it's a rebate or over payment refund, then you'll need to process a credit note or dummy credit note to get the credit back in the P&L - in which case you could use the prepaid option anyway.
Agree a better way should exist to simply debit bank and credit creditor subledger!
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The only way we do this is to create the credit note using 'Post invoice' and click "prepaid". Then it processes a negative payment to the bank GL for reconciliation against the refund received.
But for credit notes created through Register invoice or post invoice without that "prepaid", either have to be applied to a invoice or reversed out and done by the prepaid option as above. So I agree, it would be good to have a function that is less messy please!
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