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Is there any way to apply manual payment with return payable transaction entry as we can only see invoices in apply option.
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Community,
Is there any way to apply manual payment with return payable transaction entry as we can only see invoices in apply option.
Thanks
Cheryl's way is one way to do it. I would recommend a different way.
Use the Return transaction type in Payables Transaction Entry. This is probably one of my favorite features in Payables.
This will let you show the money coming back in to accurately update your vendor records (amount billed, amount paid, returns, etc), post to the correct PURCH general ledger account AND post to your checkbook/cash account.
Put the $2,000 in the Returns field and put the same $2,000 in either the Cash or Check fields to the right. You'll get prompted to enter a check or payment number, select the bank account and enter the date you want to show the money received.
When you post the transaction, it will also show as a pending deposit in Bank Deposits.
It's a cleaner trail of receiving money back from vendors.
I hope this helps.
Thanks.
Joe
It doesn't sound like there is any product being received back since it was just an advance payment from Payables. If the $10k check was cashed, then you cannot void it. If they are just sending a $2k check back, then you don't really need to do anything in Payables. Just record an 'Increase Adjustment' in Bank Rec (Transactions | Financial | Bank Transactions) so you can increase the checkbook balance back to reflect the money received back, and you can debit the cash account in GL to reflect that as well, and credit the GL account (like purchases or advance payments, etc) that was used on the invoice that was applied to that original $10k check (not the AP account.) If they don't send the $2k back as a separate check and just tell you to take it from future activity or another payment due to them for another invoice, then you could just key a Credit memo in Payales and apply it to a different invoice that you will be paying out to them soon.
Hope that helps,
Cheryl
Microsoft Dynamics GP Support
For example:
We made manual advance payment to the vendor $10,000 which was mistakenly recorded wrong now vendor wants to give us back $2,000 then how can we record this payment in GP and know off with $10,000.
I hope I tried my best to make it clear now.
I don't know your scenario, but you can VOID it in Payables.
No, returns, credit memo's and payments are all 'payment' type documents in Payables, so you cannot apply them to each other. You cannot apply a payment to a payment. You can only apply payments to invoices, finance charges and misc charges.
I hope that helps. Please post if more questions on the information provided above or 'mark as answer' if this answers your question. Thank you in advance.
Cheryl
Microsoft Dynamics GP Support
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