Purchase Credit
Purchase Credit Notes are referred to as Purchase Credits through Aedon for brevity.
The Purchase Credit is used to reduce the balance owed to supplier. A Purchase Credit might arise for many reasons including: a short delivery, a quality issues, a goodwill gesture, or a discount.
Once a Purchase Credit has been created it can be Allocated against a Purchase Invoice which effectively pays it, or Refunded via a Purchase Refund. Generally, Purchase Credit Notes are quite unpopular and Financial Controllers like them to be allocated or paid as soon as possible because they make the Purchase Ledger untidy!
POSTING RULES
| Code | Name | Debit | Credit |
| PC | Purchase Credit | Accounts Payable | [Nominal Code] Input VAT |
Being the reverse of a Purchase Invoice, the Debit must be into the Accounts Payable Nominal Code; The Credit is against whichever Nominal Code the Purchase Credit is in relation to, then depending on the VAT eligibility of the Purchase Credit the Input VAT Nominal Code will also be Credited.
