Returned Item with Reference

Overview

Create a return order to a vendor – create a credit note, financial postings, inventory impact, and reference

Step 1:

Create a purchase order with a status of return order

Procurement and sourcing > Common > Purchase Orders > All purchase orders

On the purchase order window, click on Purchase order from the new section on the action pane

Select the vendor account from the drop down list, select the site and warehouse, then select from the drop down list in the purchase type “Returned Order”

Once you select the returned order as your purchase type, the RMA number field will populate for you – enter the RMA number and then click ok

On the returned order window, click on the purchase tab, and click on “credit note”

Select the PO from where you want to create the Credit note from – then change the quantity to reflect the actual quantity you are returning to the vendor then click ok

Automatically, the line will be populated with the selected line from the “create credit note” window

Then click on the line details, and click on the product tab to review the reference lot #

Confirm the purchase order by clicking on the confirm button in the generate section under the purchase tab

On the “Receive tab” click on the product receipt and generate the product receipt

To review the financial postings, click on the product receipt journals > Vouchers

It is credit product receipt and debiting purchase accrual

Go to the invoice tab, and click on Invoice to generate an invoice

Enter an invoice number and an invoice date then click on the post

To review the financial postings, click on the invoice journals > Vouchers

Its taking out of the inventory the original price on the PO when the item was originally purchased for (12 USD)

Now we go and review the transactions and the on hand of the item – simply right click on the item number and view details from the Returned Order

Then on the Released product – LIFO, click on the “manage inventory” tab and click on the on-hand inventory. Then click on the On-hand tab.

Notice the cost price is 11.61 vs. the PO is 12

Now click on the transaction window – and locate the returned order PO# 000110

Click on the general tab – and you can see the reference lot # being the same as the one on the returned order and the PO

PO#000105

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