Actionstep offers built-in accounting to users on our Enterprise plan. This article covers functionality only available with that option.
Supplier invoices (also called Vendor invoices) are the bills that are sent to you for your company to pay.
In this article, we will show you how you can create credits to deal with refunds or discounts on those invoices. We will also show you how to you apply those credits and access previously created credits in Actionstep.
- Creating a new credit supplier invoice
- Completing a credit supplier invoice
- Applying a credit to a supplier invoice
- Applying a credit to a deposit
- Accessing previous credit supplier invoices
Creating a new credit supplier invoice
Credit supplier invoices are created from the supplier invoice that you are wanting to credit. You will need to find the supplier invoice, open it and then click the button at the bottom of the screen.
To access your previous supplier invoices go to Accounting > Vendor > Supplier Invoice.
Completing a credit supplier invoice
Complete the two-step wizard and then make any alteration to the credit supplier invoice and save.
Choose any items from the original supplier invoice that you would like to not credit.
The screen will display the line headers and the line items in the supplier invoice with a tickbox beside each. By unticking an item it will not be created in credit supplier invoice.
If you need to credit just one or two items in your supplier invoice, use this function to ensure that only those items are included in the credit.
Click Next to move to the next step
Enter the credit date and a reason.
When entering a date be aware that when you go to apply the credit to a supplier invoice you will need to do this on a date on or before the supplier invoice date and the credit date.
Click Finish to move to the summary screen. Click Finish on the screen to complete the wizard and open the draft credit supplier invoice.
Making alterations to the Credit and Saving
The supplier invoice screen and the credit supplier invoice screen look very similar and function the same way. To help you tell what you have open, look at the background color. A Yellow background is for a supplier invoice, Green is for a credit supplier invoice, a Purchase template will have a Grey background.
Now that you have the credit open, make changes to the line items so that it equals the amount to be credited.
The credit supplier invoice works the same as a supplier invoice, the only difference is that amounts will appear in negative. See Understanding the Sale/Purchase screen for more details.
If you are creating a credit for a certain amount that is inclusive of tax, make sure that you tick the Inclusive tick box in the Details tab at the top middle of the screen.
Make sure you save the credit before trying to apply it.
Applying a credit
Most users will want to either apply a credit to a supplier invoice to reduce the amount owing on that invoice or apply the credit so that it creates a deposit into the bank account to show a refund.
Either method starts by clicking the button to open the Supplier invoice payment window.
Applying a credit to a supplier invoice
In the supplier invoice payment window, you will see any credit note and invoice that is able to be paid at the date.
- For the line that represents the supplier invoice, you want to credit, enter the amount you want to credit in the Applied box. The amount should be positive
- For the line that represents the credit supplier invoice, enter the amount you want to credit in the Applied box. The amount should be negative.
The two amounts should cancel each other out so that the total applied and the 'Withdrawal Amount' are both zero.
You can apply a credit to more than one invoice using the above method.
Applying a credit to a deposit
Similar to the process for applying a credit to a supplier invoice above, in the supplier invoice payment window, you will see any credit note and invoice that is able to be paid at the date.
- For a line that represents the credit supplier invoice, enter the amount you want to credit in the Applied box. The amount should be negative.
- In the 'Withdrawal amount' box enter the amount that was/will be placed into your bank account. The amount should be negative.
Actionstep will treat this as a negative withdrawal (a deposit). A banking transaction will be posted to the bank account and the amount owing on the credit supplier invoice will be reduced by amount you processed.
If you can't see the credit supplier invoice (or a supplier invoice) in the supplier invoice payment screen, double-check the following.
Accessing previous credit supplier invoices
Access a list of all credit supplier invoices in your system by going to the Accounting menu at the top of the screen, looking under Vendor and clicking Credit Invoice.
(Accounting > Vendor > Credit Invoice).
This is a standard Actionstep list view. Use the filter to help search for a specific credit supplier invoice.
The functionality of this view is very similar to that of the supplier invoice list. See the article on that for more details.
- Introduction to Actionstep's in-built Accounting
- Accessing Vendor invoices / Supplier invoices
- Creating a supplier invoice / vendor invoice
- Creating a supplier invoice / vendor invoice through the Quick Entry Wizard
- Understanding the Sale/Purchase screen
- Paying a supplier invoice / vendor invoice
- Bank Reconciliations