How to apply a credit to the related invoice dated in a previous month

jenni

Hi,

 

I am wanting to know what date I should enter when applying a credit (dated 15.7.2021) to it's related invoice (dated 25.6.2021).   

 

I am trying to do a Payables Reconciliation for June but understand that the out of balance amount is the credit amount from July, applied to the June invoice.  I have entered the apply to purchase date as 25.6.2021.

 

My Question - what date do I enter when applying credit to purchase?

Is it the date of the credit or the date of the invoice or something else?

 

Thanks!

Jenni

Tracey_H

Hi @jenni 

 

Thanks for your post. Generally when you record the credit (supplier debit) you would enter the date as the date the credit was issued, eg 15/07/2021. Then when applying the credit to an outstanding invoice the date would be the credit issue date, eg 15/07/2021. That way the software reflects what happened in real life, with the credit being applied when it was issued not before it was issued.

 

Please let me know if you need further help.

 

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