Purchase Credit Notes

GSStanley

Hi,

Could somebody give me some advice on the following

We are going to receive a part credit for a stock item

It's a credit on the cost of the items not the quantity.

We received 20 items and we are going to get a part credit and refund for 15.

What's the best way to process the credit so as reduce cost but not quantity

Many Thanks

Kishorm

As long as you're not concerned about affecting the costing of the item (or it's standard cost anyway) then you should just post the credit using a G/L account posting.

If costing is important then you can post a credit +15 qty for the original cost and another line -15 qty for the reduced cost. If the original item is still in inventory then you can also apply the +15 qty to the original received item ledger entry.