Send Credit/Debit Note Transactions to the General Ledger

Order Entry now uses the Credit/Debit Note Clearing account added to Inventory Control account sets when you enter and post credit and debit note entries.

Items returned to inventory

The following example records a credit note transaction for items returned to inventory. The first transaction is posted directly to G/L from Order Entry; the second one goes through Accounts Receivable.

G/L Account	Debit	Credit
Inventory Control	X
Credit/Debit Note Clearing		X

 

G/L Account	Debit	Credit
Sales Returns	X
Credit/Debit Note Clearing	X
Tax Liability	X
Receivables Control		X
Cost of Goods Sold		X

 

Damaged items

The Damaged Goods account is debited rather than the Sales Returns account.

G/L Account	Debit	Credit
Damaged Goods	X
Credit/Debit Note Clearing	X*
Tax Liability	X
Receivables Control		X
Cost of Goods Sold		X*

* The Cr/Dr Note Clearing and the COGS entries will always be zero for damaged goods.

This transaction will appear differently in the A/R Invoice form depending on whether or not the transaction is job-related or uses optional fields.

• If the transaction is job-related or uses optional fields, the invoice will list a single detail line for the damaged goods account.

• If the transaction is not job-related and does not use optional fields, the invoice will list three lines—one for damaged goods, one for cost of goods sold, and one for Credit/Debit Note clearing—but only the damaged goods line will have an amount.

Price adjustment

 

G/L Account	Debit	Credit
Sales	X
Tax Liability	X
Receivables Control		X

Debit notes generate opposite debit and credit entries.

See also

 

Changes in Order Entry 5.5

Integration with Project and Job Costing

Different Document Dates and Posting Dates

Drilldown to Sales Orders and POs from Transaction Entry

Enter Prepayments on Shipments

Check for Duplicate Orders Based on Purchase Order Numbers

Calculate Backordered Quantities Based on Customer Options

Cost inventory during Posting / Create Transactions and Audit Information during Day End Processing

Inquire on Pending Shipments

Order Entry Templates with Blank Tax Groups

Definable Source Type Codes for G/L Transactions

Hide, Show/Allow Editing of Unit Cost/Extended Cost Fields in Credit/Debit Note Entry

Override the Customer Account Set during Order Entry

Create Unconsolidated Details on A/R Invoices

Create a Single Line for Kitting Items on A/R Invoices

Post Transactions Faster

New Picking Slips