Jessie2011
2 months agoUser
Supplier Returns
I am having trouble returning products to our supplier due the the average costing that MYOB uses. It won't allow me to have a negative cost. How do I return product at the price I was supplied?
Hi Jessie2011,
I agree with Mike_James' suggestion. Additionally, by adjusting the inventory and creating a credit note, you ensure that MYOB reflects the product return accurately. The key is to handle the inventory adjustment first and then create a credit note that matches the original purchase cost.
Feel free to post again, we're happy to help!
Regards,
Earl
Not sure why I would "adjust the inventory" and I am trying to create a credit note that is the issue. I am returning all the inventory which is correct following a stock take. Confused sorry
Hi Jessie2011,
I get your frustration about the stock return issue and the error message you're seeing. In MYOB, you usually raise a bill with negative quantities when returning items to a supplier. However, the lower average cost of the item in your inventory compared to the purchase price might be causing the problem. You could try adjusting the average cost of the item in your inventory to match the purchase price before making the return. Therefore, it's important to talk to your accountant or financial advisor before doing this, as it could impact your profit and loss statement. Let me know how you'd go with this and if you require further help.
Kind regards,
Shella