Enter or select the
ID of the vendor who is issuing the credit. To display a list of existing
vendors, type ? in this field,
or select the Lookup button.
In the Credit
# field, enter the ID that you want to apply to the credit memo.
Note: You may want to connect the application amount to the
credit memo. For example, if the existing invoice number is 106, you may
want to type 106-C to indicate that the credit memo is applied to the
invoice.
Enter the date of the credit memo if it is different
from the displayed credit date.
Enter the due date of the credit memo if it is different from the displayed due date.
Use the drop-down
list that appears at the top of the tab to select the original invoice
to apply the credit memo to.
The grid displays all line items that appear on the original invoice.
In the Return
column, enter the quantity of any item that you want to credit or return.
The quantity that you enter here will appear on the completed credit
memo; Sage 50 will automatically remove this quantity from your inventory item records.
Repeat step 3 for
each additional item that you want to return or complete.
If you need to enter
retainage, select the Withhold Retainage
tab and enter the appropriate amount of retainage credited to you on the
appropriate job line item. This will ensure that retainage is tracked
properly in the system.
Make sure that the general ledger account number selected is a Payable
Retainage account. This number will default to the account used on the
original invoice.
When finished entering
transaction information, select the Save
button. If you are using
batch processing, to post the memo, select Tasks>System, and then select the Post
option.
Entering
a Vendor Credit on a Purchase without Invoice
From the Tasks
menu, select Vendor Credit Memos.
Sage 50 displays the Vendor
Credit Memos window.
Enter or select the
ID of the vendor who is issuing the credit. To display a list of existing
vendors, type ? in this field,
or select the Lookup button.
In the Credit
# field, enter the ID that you want to apply to the credit memo.
If the transaction
date is different from the one displayed, enter or select a new date.
In the Quantity
column, enter the quantity of an item that you want to credit or return.
The quantity that you enter here will appear on the completed credit memo; Sage 50 will automatically remove this quantity from your inventory item records. If the line item contains serialized inventory, you will need
to either add or select serial numbers for the item(s) (Sage 50 Premium Accounting and higher). Select the line item with the serialized inventory item, then select the Serial No button to enter or select serial numbers. Either the Serial Number Entry or the Serial Number Selection window appears, depending upon whether you entered a positive or negative quantity. Which window will appear? Enter or select the serial numbers you need and select OK when you're finished to return to the Vendor Credit Memos window. However, if the credit memo has more than one line item that contains serialized inventory, you can select
the OK/Next button to save the current entry and move to the next serialized item.
Next, enter all information
for the returned or credited item, including the item's quantity, item
ID, description, unit
price (the number of decimal places is selected in Maintain
Global Options), and
job information (if applicable). The default unit price is the
last posted price for this item. If
you are tracking job costs, you can assign a job for the item.
Repeat steps 1 and
2 for each additional item that you want to return or credit.
Select the job and the phase and/or cost
code to which this transaction applies. To do so
In the Job
field, click the folder button to display a drop-down list of available
jobs, phases, and cost codes (if the job uses them).
Click the folder for
the job you want to apply these costs to. This will display the list of
phases.
Click the folder for
the phase you want. This will display the list of cost codes if there
are cost codes associated with the phase you selected.
Click the cost code
you want to select, if necessary. This will close the list of jobs and
select that particular job, phase, and cost code.
Note: Purchases of stock and assembly items cannot
be applied to a job. These types of inventory items are applied to a job
using Inventory Adjustments or Sales Invoicing.
If
you need to enter retainage, select the Withhold
Retainage tab and enter the appropriate amount of retainage credited
to you on the appropriate job line item. This will ensure that retainage
is tracked properly in the system.
Make sure that the general ledger account number selected is a Payable
Retainage account. This number will default to the account used on the
original invoice.
When finished entering
transaction information, select the Save
button. If you are using
batch processing, to post the memo, select Tasks>System, and then select the Post
option.