Purchase Credit account - when it will use?

Hi All,
Just being confused with Purchase Credit Account, when this account will be used? It is at Goods Return function? or AP Credit Note?
What account should be set for? COGS? Looking forward for correct answer, thanks.
Regards,
MH

Hi,
Purchase Credit Account is an expense account to be used as default when a credit transaction for purchasing is created, for example, an A/P credit memo.
This account defaults for new warehouses, item groups and item master data records creation.
The purchase credit account can be the same as the Expense Account, in case you do not wish to record credits to a separate account.
It is mandatory account for Initial Setup.
Regards,
Preety Goel
SAP Business One Forums Team

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Please advise, what accounts (Expense or Income Account) should be determined for Sales Credit Account and Purchase Credit Account under Item Group & Warehouse Setup window.
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Prak

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