How to record supplier refunds in Sage Accounts Production.
Description
To process a refund from a supplier, you can use a credit note, a zero-rated invoice, and a receipt.
Resolution
Create a purchase credit note for the supplier.
This clears the original supplier invoice.
Create a zero-rated purchase invoice for the supplier.
Post the invoice to the suspense account 999.
Raise a receipt.
This clears the bank account entry and the suspense account.
EXAMPLE:
You post and pay a supplier invoice for £100. Later, you refund £100 by creating a credit note, a zero-rated invoice to the suspense account 999, and a receipt. This clears all balances.