How to receive a refund on a supplier order?
Hi,
We have a supplier order for stock in our system, already fully paid for.
Stock has not yet been received.
The supplier can no longer supply the full amount of stock and has issued us a ref...
Forum Discussion
Genereve,
The purchase order has NOT been converted into a Bill.
The stock has not been received, the Order has not been changed to a Bill.
It is still a Purchase Order and I need to receive a refund against it.
The Purchase Order has been paid in full.
Let me explain again......
Purchase Order - 3,000 units - stock not yet received, still as an Order, fully paid
- Supplier can only provide 2,588 units - monetary refund received to our bank account for the difference.
- How do I receive this refund against the PURCHASE ORDER, which has NOT been changed to a Bill?
Hi SimoneABC,
Thanks for clarifying the concern.
Unfortunately, you won't be able to record a refund from inside an existing purchase order. The app does not allow recording any negative payment from any of the purchase transactions. The only option we have in recording the refund is by creating a bill with the negative value (the amount of the refund), as after recording the negative amount it would show as a return from the Purchase register > Returns & Debits. We could then process the refund in my previous screenshot and choose the bank account where it was refunded.
We appreciate your patience. Let us know if you still need any assistance.
Thanks,
Genreve
Thank you for trying to assist.
However, that is rather annoying, as I can't do that.
If I change it to a Bill, I will be bringing in Stock Inventory that I don't actually have on hand.
Because the refund was in September, I will not be able to reconcile my end of month, until such a time as the stock arrives and I can change it to a bill.
Hi SimoneABC , until the stock arrives:
- record a receive money transaction for the refund, allocated to an account such as supplier deposits,
then when the stock arrives:
- convert the order to a bill, amend the qty and record to leave a credit,
- then record a service purchase allocated to the supplier deposit account,
- then settle the credit against this purchase.
Use the journal memo to explain these transactions.
Hi SimoneABC,
Thanks for your response and the additional information.
You could follow what Mike_James suggested. Following his option will make sure that the stock values are correct.
Let us know if you need any further help.
Cheers,
Genreve
