The following process outlines the steps of adjusting stock in Minfos once a credit has been applied for, and awaiting a credit note from, either a wholesaler or direct supplier.
Note: This process is for stores who do not electronically collect their invoices from the wholesaler.
Other handy credit processes are:
- Manage Agreed Percentage Value Credits
- Reverse an Order
- Swap Direct Supplier Stock
- Manage dated or damaged stock
This is a five step process:
- Apply for a credit to the supplier (external to Minfos).
- Create a credit adjustment invoice.
- Print the credit adjustment Invoice.
- Complete the credit adjustment invoice.
- Reconcile amounts once the supplier credit has been received.
Create a Credit Adjustment Invoice
- All received tax invoices should be completed as per normal process ensuring the hard copy tax invoice balances with the electronic invoice in Minfos.
- Products to be credited should not be deleted out of these invoices.
From Stock Manager:
1. Click Order Maintenance.
2. Click Add to create a credit adjustment invoice.
The Order Entry window is displayed.3. Ensure that the following information is entered:
a. Enter the Supplier code or supplier name to select which supplier the credit is to be applied against.
b. Enter the invoice number which the product was supplied on, with the leading letter ‘ C ‘ for Credit.
c. Enter a Description of the order, followed by the credit reference number if this is available.
d. Click Add to continue to add the product to the order.
The Order Detail window is displayed.
4. When Adding a product:
a. Enter the Product Code, by using ‘/’ followed by the PDE, scanning the product or searching and selecting the product.
b. Enter a ‘ – ‘ (minus sign) followed by the Quantity, which is being credited.
c. Enter the Unit Cost amount which is to be credited. The unit cost will default to the last buy cost.
d. Click Okay to save.
5. Repeat Steps 3d - 4d until all products have been added.
6. Once all products have been added, click Cancel to close the Order Detail window and to return to the Order Entry window.
7. Click Okay.
Print the Credit Adjustment Report
1. Highlight the order and click, Print.
The report type window is displayed.
Selected by default are, Purchase Order Format and Show Prices, these should remain selected.
Show prices will display the unit cost for each product of which you are awaiting a credit on the purchase order report, making it easier to reconcile credit amounts when receiving a credit from the supplier.
2. Click Okay to run the report.
The following Purchase Order report will be created.
3. Click Print to print the report or Close to export and save as an electronic copy.
This report should be filed until the credit is received.
Complete the Credit Adjustment
The created Credit Adjustment Invoice should be completed immediately after a credit has been applied for through the wholesaler or direct supplier.
Completing the order immediately ensures:
- That stock on hand quantities are correct.
- Generated orders will take into consideration that these products have been adjusted and will prompt to reorder accordingly.
1. Complete the order as per normal manual order processes.
a. Highlight the order/credit, click Issue. The order will appear in Blue, with an Issued Status.
b. Ensure the correct order/credit is highlighted click Received.
2. Click Yes on the Receive Order prompt to continue.
The order will appear in Green, with a Received Status.
3. Highlight the added order and click Complete.
Order Confirmation window is displayed.
Ensure all information is correct before proceeding.
4. Click Okay to continue.
5. Click Yes, on the Order Confirmation prompt to complete the order.
Reconcile after Supplier Credit is received
Once you have received a credit note or statement from the supplier:
1. Cross reference that amounts of the credit received from the supplier and the printed credit adjustment Invoice completed in Minfos balance.
- If they balance, the credit adjustment report can be disposed.
- If they do not balance, contact the supplier.
Suppliers should be contacted to follow up any outstanding credit adjustment reports at the end of each month.