Right, with a reason code and a corresponding GL Control. I used an RTV (Return to Vendor) reason code with it pointing to an Inventory Returns Balance Sheet account (since it was still inventory) and the Debit memo would point to that account. In any case, no matter where the inventory offset account was, you would have the Debit memo transaction point to that account.
Charlie Smith
CTCharlie@...
Cell: 860-919-1708
Office: 817-860-9862
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, April 22, 2015 4:19 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Return Material to Supplier E10
We do the same thing except the the Qty Adj – goes to a Vendor Returns accounts so we can make sure what we send back – gets offset by the credit memo.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, April 22, 2015 12:25 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Return Material to Supplier E10
The material is in stock so a Qty Adjust would be in order. That would put the cost in the Inv Adjustments account.
In AP write the debit memo and use the Qty Adjust account as the offset.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, April 22, 2015 2:03 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Return Material to Supplier E10
I know it's in here somewhere.
We processed a receipt for materials from a supplier, and have entered the AP invoice. But in the meantime sent some of the items back. Now I have a credit invoice from the supplier.
How do I reverse the receipt so we can get the items out of stock and enter the credit?
Thanks,
Joe
Bigham Ag Equipment