Day End Processing of Credit Notes and Debit Notes
Note: If you cost inventory during posting instead of during Day End Processing, almost all Day End processing tasks will also take place when you post transactions.
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If you are concerned with transaction processing speed, you should cost inventory transactions during Day End Processing—not during posting. (You change this setting on the Processing tab of the I/C Options form if you are using the Inventory Control module.)
When you run Day End Processing to process credit notes that included changes to costs, the program updates item costs in Inventory Control.
Day End Processing creates the Credit/Debit Note Posting Journal and the general ledger transactions for the G/L Transactions report, if you print it in Purchase Orders. It also adds information from each credit note and debit note to the invoice batch that is created for Sage ERP Accpac Accounts Payable. (The general ledger transactions are created when you post the credit and debit notes in Accounts Payable.)
When a credit note is applied to an invoice, the invoice number appears in the Apply To field when you display the transaction in Accounts Payable's Invoice Entry form.
Finally, Day End Processing updates history and statistics, if kept, in Purchase Orders and Inventory Control. If you do not keep transaction history, it deletes all credit and debit notes.
For information on the general ledger accounts affected by credit notes and debit notes see Journal entries generated from posted Purchase Orders transactions.
See also