Refund from Supplier after payment
Refund from Supplier after payment
Supplier submitted a bill of Rs.1000/- against his supply and we have paid him 1000/- as full payment against invoice. Now his material has been rejected and invoice value reduced to 800/- and he refunds Rs.200/-. How to A/c.for this entry in AR and AP?
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- Posts: 38
- Joined: Thu Sep 25, 2008 11:50 pm
- Location: India
First you should return the material in PO module and then create a credit memo for the returned value.
You can combine this credit memo along with other invoices and then make payment for the supplier.
If the supplier is an one time supplier and if you are working on R12, then make payment using 'Refund' payment type for that credit memo.
If the supplier is an one time supplier and if you are working on R11, then you may create a miscellaneous receipt in AR.
Cheers,
Saravanan TG
You can combine this credit memo along with other invoices and then make payment for the supplier.
If the supplier is an one time supplier and if you are working on R12, then make payment using 'Refund' payment type for that credit memo.
If the supplier is an one time supplier and if you are working on R11, then you may create a miscellaneous receipt in AR.
Cheers,
Saravanan TG
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