16 Account Credit
From TrueERP wiki
Entering a Credit
Can you enter a 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 is a posting financial transaction (it will touch your accounts in the system).
Credits are posted directly to an Account.
How To Create a Credit
Select the Purchase tab. Select the Credit button
Select a Supplier from the drop-down list. The following details will auto-load:
Supplier's Address details Currency Code and Exchange Rate Credit Number Date Employee Terms
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 - these will NOT be displayed on the printed form of the Credit Note.
Select the Approved tick-box to load this credit into the Supplier payment screen.
NB: Until a transaction is marked as approved it will not be available for payment.
Enter the Invoice/Credit Note Number Select Choose Template if you wish to select a specific template to print the credit to.
Select Cancel to cancel this credit without Saving. or
Select the SAVE; Print; or Preview. NB: All three choices will save the transaction, however Print and Preview will enable you to print the Credit.
With Choose Template ticked you will be prompted with the Report Selection screen for selection of the desired template. Select the Template required. Select OK
Credits are listed in the Bill List Type as a Credit for easy reference and filtering.
How do you apply a credit to a Purchase Order/Bill?
Select Payments Tab 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/Bill line you wish to apply the credit to. If the credit is to be applied to multi lines, enter the amount into the Payment amount column. Select save
