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Supplier returns and debit notes

Supplier Returns & Debit Notes

Answer Summary

A supplier return sends received goods back against the purchase order (no more than received and not yet returned) or to a supplier who has sold you the item before. Approving it takes the stock out of its bin at average cost, marks named serials as returned to the supplier, and raises a debit note including VAT, with any price difference posted to purchase price variance. The note is set against the same supplier's open bills, offset automatically in a payment run, or recorded as refunded.

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