How to Create a Purchase Adjustment
Purchase Adjustments are entered on the Worksheet in order to reduce or increase your supplier costs.
To create a new Purchase Adjustment, go to the Adjustments tab of the Worksheet and use the New Adjustment drop-down to select Purchase Adjustment.When in the Purchase Adjustment, follow these steps to add a new adjustment:
(The Memo # will be generated from cieTrade.net and the Memo Title will automatically populate with either “Credit Memo” or “Debit Memo” based on the Amount entered for the adjustment (i.e., -$220 would be a Debit Memo, $220 would be a Credit Memo).
1. Select a Vendor from the dropdown list.
2. Select an appropriate Expense Account from the dropdown list.
3. Enter an Amount – a negative amount (-$220) will reduce the invoice amount; a positive amount ($220) will increase the invoice amount. In this example, an amount of $220 is entered as a purchase adjustment in order to increase the total purchase amount by $220.
4. In the Explanation box, you may enter any Purchase Adjustment notes that will then print on the Credit/Debit Memo.
5. Click Save to exit the adjustment window.
Please Note: the Purchase Adjustment will not show in the Profit Snapshot until the Voucher has been posted in the AP Ledger.
6. To post the adjustment, go to Accounting> AP Ledger.
7. Select the Account and set the Status to 'Open All'. This will show you all Open Invoiced and Unposted entries.
8. Check off the ones you want to pay. You can either post them one by one or select multiple to push through to the accounting system as one.
9. Click Post Invoice and enter an Invoice # and Date.
10. If you checked 'Print Statement' then it will open another tab in your browser with the Settlement Statment. You can also print it from Reports> Settlement Statement.
11. When you go back to the Worksheet, you will notice the Purchase Adjustment is now factored into the Profit Snapshot. On the Adjustment tab, there will be a Posting Date and Batch Number.
If you have additional questions, please contact the Support Team via email to firstname.lastname@example.org.