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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HPHello,
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When we are using with Standard(Valuation Method) in Inventory Data Tab.
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Good Morning All,
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.
Please explain me the functionalities behind this two accounts. For what transactions these account will be helpful?
Thanks in advance.
Regards,
BalajiSales Credit Account
Used when posting a Credit on Sales side for non stock/stock items.
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Check this link which explains the variuos stock accounts in B1.
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[https://websmp101.sap-ag.de/~sapidb/011000358700006406532006E/CW46_LOG_StockAccounts.pdf]
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Regards
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Webex Recorded Session
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http://help.sap.com/saphelp_nw04/helpdata/en/3c/831620a4f1044dba38b370f77835cc/content.htm
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Hi All,
When I am creating AP credit note, inventory a/c is credited instead of purchase credit a/c .
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Thanks
PrakHi,
In DEMO, check the working with a non-inventory item.
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Kind Regards,
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