Allocating funds received against supplier credit notes
Problem reported by Shamim Sarif 6 years ago
I received a supplier credit note in December 2014 which I posted to the ledgers. The actual funds to offset against the credit note was credited to the bank account in January 2015.
When I tried to allocate the funds received against the credit note in Clear books, the method of posting a refund meant that I would have 2 credits in my supplier ledger. This is clearly wrong.
The support team said that I had to delete the previous credit note, then post the bank refund which will create an automatic credit note. This is also clearly wrong on many levels.
First the credit note was received and posted in December 2014. Deleting it would change values on the Aged Creditors report, VAT control, and Purchases. I cannot post the bank refund in December 14 as it was received in January 2015, and posting it this way would mean the bank reconciliation for December would be wrong.
I have been raising this issue with Clear Books support for sometime and all I keep hearing is that "our consultant accountant agrees with you and the matter is with our development team". How long does it take the development team to address this issue. Clearbooks recommended method of posting supplier credit note refunds is wrong on the basic bookkeeping level and should be amended immediately.