Page 1 of 1
Refund from Supplier after payment
Posted: Sat Aug 29, 2009 1:41 am
by Sandip27
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?
Posted: Mon Aug 31, 2009 2:48 am
by umamahesh_jv
Hi,
Raise a debit memo, match that to affected invoice and take refund of that debit memo.
let me know if you have any doubts.
Regards
Mahesh
Posted: Mon Aug 31, 2009 3:24 am
by tgs100
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
Posted: Mon Aug 31, 2009 4:25 am
by tgs100
If the supplier is an one time supplier and if you are working on R11, then you may create a miscellaneous receipt in AR.
You can do supplier refund using 'Refund' type in payments in R11 also. Hence misc receipt is not required as mentioned in my previous post.
Cheers,
Saravanan