Credits and Returns to Inventory

How do I enter credits and returns to our inventory?

If you are returning an item to inventory that was previously used on a project (or giving a credit for an inventory item), follow these steps:

1. Choose Inventory Used from the Costs menu.
2. Click the New button.
3. Enter an Inventory account into the Source clairvoyant field.
4. Enter a brief description of the credit or return.
5. Enter the amount of the credit into the Gross Price field.
6. Enter job cost info.
7. Click on the Applies To popup field, and enter Credit or Return (see below).
8. Hit the Enter key to save the record.

Using Credits

Enter Credit into the Applies To popup field when you are giving a credit to a project, and don't change any inventory amounts.

A credit might apply to any of these situations:

• There was a mistake in the price you charged.
• The item was damaged and you gave the client a partial refund.
• You returned an item to inventory, but are not tracking its quantity.

Using Returns

Enter Return into the Applies To popup field when you return an item to inventory, and want to adjust inventory quantities as well as giving the client a credit. If the transaction includes an Item breakdown, the inventory quantity of each listed item will be increased.

NOTE-- If you enter a Return when there are no Item breakdowns, the return will act exactly the same as a plain credit, with no inventory adjustment.

To return to expense topics, click here.

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