Not available in AccountRight Basics A supplier debit is money that a supplier owes you. For example, if you receive goods that are damaged, the supplier may refund you the purchase value or apply the amount to other unpaid purchases you have with them. To process a supplier debit, you first need to record a debit transaction and then record the settlement of the debit (for example, by recording a refund cheque from your supplier). Recording supplier debitsYou can create a supplier debit in one of two ways: - Reverse a purchase. Use this method if you've paid for the entire purchase.
- Manually create a debit. Use this method if you've been debited for part of a purchase.
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| title | To reverse an existing purchase |
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| Your company file transactions must be set to unchangeable before you can reverse a purchase; that is, the Transactions CAN’T be Changed; They Must be Reversed option must be selected in the Security tab of the Preferences window.- Find and display the purchase. See Finding a transaction.
- Go to the Edit menu and choose Reverse Purchase. A supplier debit appears in the Purchases window.
- If you want, you can make some changes to the supplier debit (such as changes to the date and memo), but you can’t change the accounts, amounts and quantities that are associated with the debit.
- Click Record Reversal. The supplier debit appears in the Purchases Register window.
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| title | To manually create a debit for a non-item purchase |
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| | Tracking purchase returns and allowances Before you create a supplier debit for the first time, you may want to create an expense account for tracking purchase returns and allowances. |
- Go to the Purchases command centre and click Enter Purchases. The Purchases window appears.
- In the Supplier field, enter the supplier’s name.
- Select Bill from the Purchases Type list in the top left corner of the window.
- Click Layout and select Miscellaneous.
- In the Description field, type the reason for the supplier debit.
- In the Acct No. field, enter the account number to be debited. This is normally an expense account called ‘Purchases Returns’.
- In the Amount field, type the amount of the debit as a negative amount.
- Click Record. The supplier debit appears in the Purchases Register window.
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| title | To manually create a debit for an item purchase |
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| - Go to the Purchases command centre and click Enter Purchases. The Purchases window appears.
- In the Supplier field, enter the supplier’s name.
Select Bill from the Purchases Type list in the top left corner of the window. Click Layout, select Item and click OK. In the Bill field, type the quantity of the item you are returning as a negative number. In the Item Number field, enter the item. The cost of the item is displayed as negative amount in the Total field. Click Record. The supplier debit appears in the Purchases Register window.
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