Entering a new customer credit
- Monica Chand (Deactivated)
- Diane Partridge
Customer Credit Notes are purely Non Stock Financial Transactions from within the Card.
They have no effect on the Physical Stock Movement, that is the increase or decrease of Stock on Hand.
Usually Customer Credit is used to write off a bad debt or for a write off to Discount Allowed (trade debtors) for a minimal outstanding amount of a few cents that the customer may have underpaid.
If stock is sold and/or stock is returned you would not insert a Cusdeb or Cuscre you would go back to the source transaction and do a Salcrd.
Do not dissect a cusdeb or cuscre against any other general ledger account other than a type of expense gl account, eg trade debtor discount, freight outwards, bad debt written off etc.
Creating a Customer Credit
- Log onto Readysell>Debtors and Creditors>Customer Credits or you can go to cards, search and highlight the Card and Drop the new and select Customer Credit.
From within Customer Creditors module, Click New. The New Customer Credit window opens.
- Enter header details for the credit:
- The date is automatically set to today's date, but you can change it if you need to.
- Select the customer who the credit is for.
- Enter the Value for the Credit
- Enter a description that best describes why the credit is being created
- Click down to under the Line Items tab.
- Enter line information:
- For the Account Site, select the correct General Ledger Account.
- The description will populate from the description entered at the header level. If you wish to have a different description on the line level you can override the existing one.
- Enter either the valueex or the valueinc and the tax code. The system will recalculate depending upon which value you enter.
- When you have finished, you have three options.
- Click Finalise to finalise the credit without allocating it
- Click Finalise and Allocate to finalise the credit and allocate it against an invoice
- Click Finalise and New to finalise the credit without allocating it, and start another customer credit transaction.