Purchase Credit to lower average cost

jdelfraisse

Our vendor is giving us a credit on items we already purchased. This is to lower our average cost. The problem, we are not sure how to do that. The remaining qty on hand may not be a purchase receipt but a Positive Adjmt. We were thinking item charge, but wasn't really sure about how adjust cost works. Any ideas?

We are on version US 4.00 SP3 (5.0 SP1)

Alex_Chow

You need to update the Unit Cost ($) field on the lines area to indicate what cost you want the credit memo to put the inventory back in at.

AdamRoue

You could revalue the original stock and then post the balance to the vendor transaction of the credit invoice to the expense account of the revaluation. Two transactions but gets to the end result you require I beleive - stock correctly valued and a reduced liability to the vendor.