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Returns & Debits

bamma

Hoping you can help.

Our new parts program has a goods returned advice option where once credit notes are received it exports it for us to MYOB.

My problem is that it appears in MYOB as a debit note & options there in RETURNS & DEBITS are buttons Receive Refund OR Apply to Purchase.

Trouble is 90% percent of the time with parts returned for credit is that they are for the previous months invoices which have been paid and therefore closed.

So can not really use the Apply to Purchase button as the invoice it relates to is no longer there in Pay Bills.

So how do I get around this problem.

Cheers

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Steven_M

Hi @bamma

My previous response on this thread was aimed at the fact that you have indicated that the company has received a credit to come off the next bill. As such, there would be some sort of reduction in the amount paid to that supplier (at some point) thus you would be looking at applying that debit note to that bill to reduce the amount paid to that supplier.

With that being said, I welcome other members of the MYOB Community that do have experience in this space to share their experiences.

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bamma

Cannot apply to a purchase, as it was previous month invoice purchase and was paid in full at that time, later on when we went to use the part we found they had supplied us with wrong part so returned for credit 3wks later.

Not a refund so cannot use that option.

So not much help for me there.

Steven_M

Hi @bamma

Once a debit note has been created you do have two options in AccountRight to deal with that transaction:

Apply to Purchase - this particular option would be if you are applying the debit note to a bill for that supplier. Applying the full amount of that debit note to an open purchase for that supplier will reduce the amount to pay for that purchase and potentially close the purchase. Note: An open purchase for the supplier is recommended if you do wish to use this option to close the debit note.
Receive Refund - This option is used if you have received a refund to a bank account. Using this option will generate a debit/deposit bank transaction in the bank account to represent that bank transaction.

Which option you would select does depend on what agreement is decided upon between you and the supplier to handle that debit note. If the supplier pays you a refund you want to use the Receive Refund option, if it is applied to an outstanding purchase you want to use the Apply to Purchase option.

From an AccountRight perspective, there is no preferred option it just how you deal with that transaction with the supplier. If you are using a third-party application, you want to reflect what has occurred in real-life i.e. if you have received a refund use that option to close the debit note. if it was applied to a purchase, apply it to that purchase.