Purchase credits are used for receiving/requesting credits or refunds from purchases (suppliers). They are essentially the same as a purchase order but will apply a negative amount and quantity. The purchase credit process requires that you write off/send back the actual stock items that were the issue, rather than send back the oldest item using a FIFO method. To prevent confusion stock items cannot be added to purchase credits using a product search, you will have to manually type the details of the items. You will then need to do a stock correction to indicate the items are no longer in stock.
Creating a Credit Note
- Go to Purchases > New Purchase Credit.
- Search for and select the supplier record.
- Add standard line items (not stock tracked items) to the credit note using the Quick Search, manually type product details directly into the line detail field.
- Check the Account code and Tax code.
- Enter the Quantity and Price; enter as positive values, Brightpearl knows this is a purchase credit and will apply the values as such.
- Click Save changes.
- Click the Email/Print button to produce the credit note document and send it to your supplier.
When the credit is received you can look up the Purchase Credit and click Receive Invoice.
Allocating Credits to Invoices
Once you have created a credit relating to a particular sale you can match them together using the supplier payment allocation screen:
- Search for and open the supplier record.
- In the Financials detail box click Allocate payment.
- In the payment allocation screen all the unpaid items on the supplier account are listed. If the invoice and credit amount match exactly, click pay in full next to each one. If the credit only part covers the invoice you can enter the amount covered by the credit in the To pay now field. The allocation must balance to zero as you are not actually receiving or paying any cash in this instance.
- You must select a bank account.
- You do not have to enter a reference but you might find it useful to enter something like "allocation".
- Untick the checkboxes so that no receipts are sent by email; this is simply an internal matching on the account that the supplier doesn't need to know about.
- To finish click the Allocate payment button.
If there is no outstanding balance on the items they are removed from the list. You can view details of the allocation, and other recent, payments at the bottom of the screen.
Dealing with Returning Stock
If you have raised a credit note for stock you have returned you will need to perform a stock correction to remove the correct quantity and value.
