Enter supplier purchase receipts (refunds)

Find this screen

Open: Purchase Ledger > Enter Transactions > Receipt

Open: Cash Book > Payments and Receipts > Sales and Purchase > Purchase Receipt

Note: You can enter receipts in the Cash Book as well as the Purchase Ledger.

How to

Enter a supplier purchase receipt (refund)

Use this to record a refund from a supplier that you have overpaid, or to reverse a cheque payment which has been returned as void by the bank.

Open: Purchase Ledger > Enter Transactions > Receipt.

1. Select the Bank account or, if you have no bank accounts set up on the system, the Nominal account that you want to use.

   Note: If you haven't created any bank accounts in the Cash Book, you can select the Nominal account you want to use. If you use the Nominal account, you cannot enter foreign currency transactions.

   If the cheque currency is different from the bank currency you must also enter the Exchange rate and Bank charges for the receipt. Bank charge details are in the same currency as the bank account.

2. Click Clear.

3. Select the supplier from the Code drop-down list.

4. Enter the Transaction details.

5. Enter the Receipt details normally in the supplier's currency.

   • Enter the Cheque value.

     Note: Once you enter this value, the Exchange rate can be amended, if required.

   • If this is a payment that has been returned by the bank and the original payments has a Settlement discount, you must enter the same settlement discount amount. This ensures the transaction matches the original payment.

6. If applicable, enter the Exchange details.

   • Accept or amend the Exchange rate value by clicking on the icon () to the left of the box. This opens the Amend Exchange Rate window.

     Note: If you do not amend the exchange rate then the displayed exchange rate is used for the transaction.

7. Enter the Bank charges and other charges, if applicable (bank charges are in the same currency as the bank account). You also need to amend the nominal analysis code displayed and apply a Narrative if required.

   Note: If you want bank charges to be included in your VAT return, then don't enter your bank charges here. Instead, you should enter the bank charges as a separate Nominal Vatable Payment or Nominal Vatable Receipt, using the appropriate VAT rate.

8. Save the receipt:

   • To save the receipt without allocating Click Save.

   • To save and allocate the receipt, click Save and Allocate. Enter the allocation details.

     Note: When you allocate a payment/receipt, the allocation date will default to either today's date or your payment/receipt date. This depends on what you have chosen as the Default allocation date in Sales Ledger SettingsPurchase Ledger Settings.

   • If you entered a receipt whilst you're reconciling your bank account, you can click Save & Create Rule to create a bank feeds rule for this transaction, to save you entering it again the next time.

Enter a foreign currency receipt (refund)

When you enter a foreign currency receipt, you must also:

• Enter the currency of the receipt.

• Enter an exchange rate.

  Note: Exchange rate variations are handled using Foreign Account Revaluation.

• Enter an exchange loss or gain on the transaction, only if you are not using Foreign Account Revaluation.

  The loss or gain on the transaction is entered in the Bank Charges area of the window, selecting the Currency Adjustments nominal account.

• Enter bank charges, if applicable. (Bank charges are in the same currency as the bank account.)

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Useful info

Receipts (refunds) with early settlement discounts

If you need to reverse a transaction with settlement discount, or you receive a refund from your supplier, remember to reverse all the elements of the transaction that you've entered into Sage 200:

• If you recorded the discount amount when you entered the payment, then the discount amount will have been posted to the Discounts Taken nominal account. If you want to reverse when you record a refund, enter the net discount amount on the Purchase Receipt screen.

• If you recorded a VAT adjustment to account for the VAT discount, you'll need to create a VAT only invoice to reverse this.

Note: When you use the Reverse transaction options, all elements of the transaction are automatically reversed.

Create rules for bank feeds reconciliation

If you enter a payment or receipt whilst you're reconciling your bank account, you can click Save & Create Rule to create a bank feeds rule for this transaction, to save you entering it again the next time.

For example, if you make a regular payment for your energy bills each month, you could set up a rule that recognises your bank payment to the energy company, and then creates the matching nominal transaction for you.

You can create bank feeds rules whenever you add a new transaction in Bank Feeds Reconciliation.

See Bank feeds rules.

Outcomes

• The supplier's account balance is reduced by the value of the refund (including discounts if appropriate).

• The bank account (for the balance sheet) is debited with the value of the refund.

• The bank account (for profit and loss) is updated with the value of any charges, if applicable.

• The Discount Allowed nominal account (for profit and loss) is debited with the value of the settlement discount, if included.

• The Creditors Control nominal account (for balance sheet) is credited with the value of the receipt plus any discount.

• Any currency adjustments are posted if applicable.