You’re offline. This is a read only version of the page.
1,320
Hi all! I was wondering if someone could please explain to me the difference between Return and Return w/credit and likewise Inventory and Inventory w/credit? Why would I pick one over the other? Thanks!
*This post is locked for comments
I have the same question (0)
Return
Select Return for shipment receipts or shipment/invoice receipts when the item is not matched to an invoice and vendor credit is not applicable. An example would be when the item is to be replaced.
Manual adjustments may be necessary for return documents using the Return document type, see Processing manual adjustments for returns when closing purchase order lines when closing purchase order lines for more information.
You must use the document types Return or Return w/Credit to return non-inventoried items or any items with the item types Misc Charges, Flat Fee, or Services. Returns against kit items are not allowed.
Return w/Credit
Select Return w/Credit for shipment receipts that are matched with an invoice, or shipment/invoice receipts when vendor credit is applicable.
To return all of the items on a partially invoiced receipt, you must complete two return transactions: one for the invoiced items using document type Return w/Credit and another for the uninvoiced items using document type Return.
You must use the document types Return or Return w/Credit to return non-inventoried items or any items with the item types Misc Charges, Flat Fee, or Services. Returns against kit items are not allowed.
Inventory
Select Inventory for inventory adjustment receipts, variance receipts, transfer receipts and sales return receipts when the item is not matched to an invoice and vendor credit is not applicable. An example would be when the item is to be replaced. If you are using Project Accounting, you can’t enter this return document type for project return-from-inventory transactions.
When you process a return using return type Inventory, if the items being returned will be replaced by the vendor, you must make adjusting journal entries to remove the accrual created by the new shipment receipt.
Inventory w/Credit
Select Inventory w/Credit for inventory adjustment receipts, variance receipts, transfer receipts and sales return receipts when vendor credit is applicable. If you are using Project Accounting, you can’t enter this return document type for project return-from-inventory transactions.
When you process a Return w/Credit or Inventory w/Credit return document, the system will create a return transaction in Payables, however, the return transaction must be manually applied to the vendor’s invoice.
Share
Report
All responses (
Answers (
