16. Account CreditEnglishالعربيةfrançaisTagalogहिन्दी

Overview

Account Credit

Account Credit - Can you create an account credit?

A Credit is created in order to receive money back from Suppliers of utilities and other miscellaneous bill payments that do not relate to product purchase. A Credit works just as a negative Bill and financial transaction posting (it will touch your accounts in the system). Credits are posted directly to an Account.

• Select Purchases Module.
• Select Credit button.
• Select a Supplier from the drop-down list Supplier Name.
• Select the Account Name from the drop-down list.
• Enter the Amount of the Credit.

Tax Code and Tax Amount will automatically load, if a code has been selected within the Account. If no code is attributed to the account selected you will need to manually select the code and the tax amount will auto-load thereafter.

• Enter a Memo in reference to the entry.
• Select a Customer from the drop-down list if this credit relates to a job you are doing for a specific Customer. This will reflect in your Job Profitability Report.
• Select the Department from the drop-down list, if your Company uses Departments. Otherwise leave it as Default.
• Enter any additional Comments into the Comments field if required.
• Internal Comments can also be entered - Internal Comments are of internal use therefore will NOT be displayed on the printed form of the Credit Note.
• Enter the Invoice and Credit Number.
• Select Choose Template if you wish to select a specific template to print the credit.
• Click Print to print out this credit.
• Click Save to save this credit transaction.

You can see all the Credits that you have created in the Bill List. The Type column will differentiate between a bill and a credit transaction.

How do you apply a credit to a Purchase Order/Bill?

• Select Payments Module.
• Select Supplier Payment button.
• Select Supplier. This will load the list of purchase orders/credits/prepayments that have been entered for the Supplier.
• Click on Apply button in the Credit line entry you wish to apply, this will select the full amount, or click on the Payment amount column and enter in the amount you wish to apply.
• Then do the same on the Purchase Order and Bill line you wish to apply the credit to. If the credit is to be applied to multiple lines, enter the amount into the Payment Amount column.
• Select Save.