Supplier Return Codes

Return Codes are created to attach to the physical inventory items that credits are being claimed for or tracked or goods exchanged. Return Types dictate the return process as the steps required to return an incorrectly priced product is different to returning a damaged one. The Return Types are hard coded and are linked to each return code. The Return Types control the updating of inventory, creditors and the ledger as follows:

• Return– reduces stock on hand, creates a credit in the creditors account, inventory and creditors ledger accounts are updated. any pricing difference between the cost of the stock and credit being claimed is posted to the cost price adjustment account
• Exchange – reduces and increases stock on hand when the items are shipped and exchanged. Journal entry impacts the inventory ledger only
• Short Delivery – reduces stock on hand when items are shipped. Journal impacts inventory and creditors ledger
• Pricing Difference – unit cost on the stock on hand records are updated. Journal impacts the inventory and creditors ledger. Pricing difference is posted to the cost price adjustment account
• Short Delivery (Tracking) – no impact on stock or the ledger
• Pricing Difference (Tracking) – no impact on stock or the ledger

The Return Type list box remains enabled against each Return Code UNTIL the code is used on a request, shipping or credit document. Once a code has been used, the Return Type field becomes disabled

Steps

1.	Purchasing Supplier Returns Configuration Return Codes
2.	Type in a Return Code and relevant description
3.	Select a Return Type from the drop down list
4.	Repeat as required and set a Default code
5.	Save the changes

Copyright © 2012 Jiwa Financials. All rights reserved.

Open topic with navigation