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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / How to match up a rebate
Microsoft Dynamics GP (Archived)

How to match up a rebate

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Posted on by Dede2001 255

I am after some more advice regarding Great Plains.

Basically we have had a rebate from E-on for £13.17 which is on the bank rec as unreconciled (On the bank statement side on the right). I have entered the Credit note for £13.17 on the E-on supplier account. How do I go about matching this up? Obviously I need to post something like a supplier refund on GP so that the £13.17 is also on the left side (GP Side) of the bank rec.

I’m sure it’s pretty simple and I am being stupid but I do not want to make a hash of it and have to go back and void transactions etc.

Thank you.

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  • Verified answer
    Kalpna Halai Profile Picture
    Kalpna Halai 45 on at

    Hi Dede,

    When a supplier enters a deposit directly into your bank you can not enter a credit note in the same way as a credit note is entered when the amount is taken off an account balance.

    I am using GP 2010. Ive detailed below how I was advised to enter rebates which go directly into the bank account.

    Purchasing - Transaction Entry. Enter Voucher number - Select Document Type as a return. Enter a description - select your supplier (E-on) enter the document number.

    In the box below enter the value in the returns section. This value should be excluding tax - by the tax button is an arrow. select this and then click on the magnifying glass next to tax detail.

    select the tax group and select OK

    At this stage the tax amount will show as well as the full amount. Check these amounts as any amendments must be made via the returns entery.

    on the right hand side enter the whole amount (inc tax). select distributions checking the account, date and amount. You must enter your GL code for rebate/ refund and then when you are sure it is correct select enter, ok and finally post.

    Once you have done this you must select the financial tab and select bank deposits

    the option should show as enter/ edit

    enter the deposit date and the chq book ID - on the right hand side select deposit with receipt. You can leave the deposit number as the automated one but I like to enter a ref I can recognise instantly.

    Below select the receipt and then press post.

    You will then be albe to see this in the right hand side of the bank rec enabling you to reconcile.

    I hope this helps you.

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