CREDITS FROM SUPPLIERS - updated 29/10/2015 J

CREDITS FROM SUPPLIERS - updated 29/10/2015 J

CREDIT ENTRIES FROM SUPPLIERS  
(DIFFERENT FROM PREFERRED SUPPLIERS)

OVERVIEW
This refers to a situation where we have paid supplier, but then returned item back afterwards, so in Xero we are showing that we are in credit with suppliers




Task to be done weekly on Mondays


PROCEDURE: (Accessing the report of suppliers where we are in credit)


Go to JJ Auto Parts Xero file --> Accounts tab --> Purchases --> Awaiting Payment



Under the Awaiting Payment tab, arrange the invoices by amount DUE so that credits will be on top of the list




WHAT TO DO:

Note the details of these different suppliers, now check if we have other outstanding invoices owing to these suppliers

If we DO:


Suppliers with outstanding invoices:  i.e. This item returned, but we have purchased other items from them 
  • Create a Zendesk ticket and email the supplier advising that we have a pending credit note that we will need  to apply to an outstanding invoice

    Draft email:

    • Good day!

      There is a pending credit note XXX (invoice number) for $XXX (amount) dated XXX (date). 

      We are writing to let you know that we are applying this to outstanding invoice XXX       (current outstanding invoice available) because the original invoice that this was supposed to be applied to had already been paid on XXX (date) ****or whatever the reason for the credit is***.

      (Attach the credit note to the ticket)

      If you have further questions, please don't hesitate to contact us.

      Thank you.

      Regards,
      XXX XXX

  • Add a note in the credit note transaction in Xero about the credit allocation, include the Zendesk ticket number for reference
        


Suppliers without outstanding invoices:
  • Create a Zendesk ticket and email the supplier requesting for a refund for the credit note 

    Draft email:

    • Good day!

      There is a pending credit note XXX (invoice number) for $XXX (amount) dated XXX (date). We would like to request for a refund since there are no other outstanding invoice to apply this to.

      Kindly make an EFT payment to our bank account:
      BSB: 012-224
      Account Number: 833 390 752

      (Attach the credit note to the ticket)

      If you have further questions, please don't hesitate to contact us.

      Thank you.

      Regards,
      XXX XXX
  • Add a note in the credit note transaction in Xero about the refund request, include the Zendesk ticket number for reference

----------------------------------------------------------------------------------------------


If purchased from Capricorn 
  • Refer to AP manager to take action


FAQ

What if credit owing amount if not matched by outstanding account

what is not exactly same

what if lower

what if higher ?



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