What's new > AgExpert Analyst 2015 > Managing Credits

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« AgExpert Analyst Knowledge Base

Creating credits has been a hassle in our software for a while now. We’ve added a way to better deal with credits you encounter with your suppliers. Note: This doesn’t apply to customer credits – only to credits for people you purchase from.

If, for example, a cheque is written for $5,000 to Farmers Agro Service for product to be purchased in the future, we can now make a single entry to record this.

In the transaction entry screen, set up the withdrawal as you normally do. When you get to the detail, click the Type drop-down. We’ve added two new types to the drop-down list.

CN+ is to create a credit note, and CN- is to apply credit to your payment.

In the example listed, select CN+, as we’re creating a credit with a supplier.  This will balance your transaction. If you click Review, you’ll see that we’re decreasing the bank account, and also decreasing accounts payable for this supplier, as intended.

You can record this transaction as normal.

There are two ways to use the credit available for a specific supplier, as there are generally two situations that arise when you purchase from a supplier – you charge or pay with cash/cheque/debit, etc.

If you track payable invoices for a supplier and need to apply available credits to the supplier, fill in the top of the transaction screen as normal, with the total of the cheque filled in (or set to zero if no cheque is being written). The first line of your transaction will pay off the outstanding invoices for your supplier through the payable payment screen. The second line will then apply any outstanding credits available.

The second situation is nearly the same as the first, except that instead of the first line (or lines) being a payable payment, you’ll simply code your expenses as normal, and offset them against the credit note.

You can find the balance of available credits for a specific supplier by either generating the Accounts Payable Report, or by going to Setup>Contacts, and editing that specific supplier.

Last updated on June 23, 2015 by FCC AgExpert