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
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.
