Remove Payment from Purchase

If a stock purchase has been paid for, and the stock item to which it refers is later returned for credit, the payment must be removed from the purchase in order to allow a Return to Vendor on the stock item.  The payment must not be deleted or it will not be available for reconciliation.

•Open the Cashbook (Payments) Register from the Logic Centre or Dealerlogic menu and locate the relevant payment.  If necessary, use the advanced search features to locate by card, date or amount.  See page 23 for further information on locating the payment

•Open the payment.

•If the payment has not physically been made to the vendor, click the Delete button.

•If the payment has been physically made to the vendor, click the Remove button.

What happens as a result of what I have done?

•If the payment has not yet been physically made to the Vendor, deleting it will remove all trace of the payment.

•If the payment has been physically made to the Vendor, removing it will simply disassociate the payment with the stock purchase and it will become a disbursement entry.  The account used in the disbursement is the Asset:  Return to Vendor Refunds account.

•When the vendor refunds the payment due, use the Receipts entry and allocate the receipt to the Asset:  Return to Vendor Refunds account.  This will clear the amount from this account.