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In the previous Free Accounting Tutorial lesson we have already learnt the process of creating Vendor Return Receipt.
In the current lesson of the Free Accounting Tutorial we will learn how to add the Vendor Debit Memo to the Debit Memos List.
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This document can be written against the Return Receipt, as well as Receipt, or even without creating any documents before.
It proves the return of the items to the Vendor. For more information see the Debit Memos List page.
1 Case of defected Blue Shower Curtains was returned to the VENDOR COMPANY to the sum of $240.00.
After the intention for items return was declared and you receive an approval from him, the Debit Memo is created in the Free Accounting application.
To create Debit Memo in Free Accounting:
- Select Vendors / Debit Memos List on the Free Accounting main menu.
- Right-click in the Free Accounting working window and select Add.
In the currently opened window:
- Select the VENDOR COMPANY.
- Check the Debit Memo from Return Receipt option.
- Highlight the Return Receipt for the $240.00 amount.
- Press the OK button.
- Verify the information and press the Approve button to finalize the document.
This is an external document, after its creation you can see the Vendor Return transaction in Free Accounting MTL in which two accounts are affected: Inventory Asset and Accounts Payable. In the Reference column there will be the number of the Debit Memo.
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