Inventory - Credit Goods Received

The Credit Goods Received program allows the return (negative receipt) of items to your supplier where the return can be held until the relevant supplier credit note is received.

To process a return in Micronet, you first need to create a credit goods received batch. There are then three ways you can process the return:

• by loading the original goods receipt into the batch and selecting the items to be returned to your supplier
• by adding the items being sent back to your supplier individually as required
• by loading a previously held credit goods received batch.

The way in which items are returned also depends on whether you have received a credit note for the goods from the supplier. If you have received a credit note from the supplier, you should post the credit goods received batch as costed.

If you have not yet received the supplier's credit note, you should post the batch as uncosted and print a return authorisation to accompany the items being returned. When the credit note is received from the supplier, you then use the Reconcile Uncosted Credits program to match the credits to their respective credit note before transferring them to your Micronet Creditors Ledger (MCL). For more information, refer to "Inventory - Reconcile Uncosted Credits".

Technical Tip In Micronet 2.8, you can tag a return as a sundry credit return. When you do this, Micronet only allows you to add non-inventory items to the return and it reverses the entry in the appropriate expense account.