If your business receives a credit note from the supplier without any supporting payment reference documents, receiving the credit note can be recorded at NEW PEAK following the steps below.
Example: Receiving a credit note for product code P00006, quantity 20 units, at a unit price of 100 baht. The original document value is 4,000 baht (40 units of product at a unit price of 100 baht), and there has been no payment made yet.
Step 1: Go to the "Expenses" menu, then select "Receive Credit Note," and click on "Create."
Step 2: Select the option "Non-Referenced Documents", and click "Next."
Step 3: Specify the details of the received credit note from the supplier:
Enter a seller's name.
Enter an issue date.
Enter a reason for the credit note.
Description of reason: The system will retrieve the description from the reason for the credit note that you can edit it, and it will be displayed on the document printing page at the line of the reason of issuing credit note.
Receiving a credit note will affect on the inventory stock in 2 cases:
Case 1: Return Inventory- The stock quantity will decrease as the returned products are deducted from the stock.
Case 2: Do Not Return Inventory - There will be no change in the stock as the products are not returned.
Specify the list of products/services, quantity, and price/unit that have been credited by the supplier.
If there hasn't been any refund from the supplier yet, select "No payment yet" (Payable) option.
There are 2 cases for receiving a credit note:
Case 1: Receiving a credit note from a purchase inventory record/expense record that hasn't been paid yet. The system will automatically record to deduct the payable amount.
Case 2: Receiving a credit note from a document that has already been paid. You can select the system to record the refund payment or deduct the payable amount
This example is for Case 2: Receiving a credit note from a document that has already been paid. You can select the system to record the refund payment or deduct the payable amount
Example of Accounting Entries:
If you go to the "Purchase and Sales " tab of any inventory at Products menu, you will see cutting the stock because the returned inventories have been sent back to the supplier.
- End of Recording a credit note without referencing documents -