Processing Debit and Credit Adjustments

Once it has been released, an accounts payable document cannot be edited or deleted; to correct it, you can issue an adjustment. Debit adjustments decrease the accounts payable balance, and credit adjustments increase the accounts payable balance (that is, they increase your company’s liabilities).

In this chapter, you will learn how to create debit adjustments and credit adjustments.

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Debit and Credit Adjustments: General Information

To correct released AP documents, you create debit adjustments and credit adjustments on the Bills and Adjustments (AP301000) form.

Debit and Credit Adjustments: Debit Adjustments with Cash Discounts

Debit adjustments that you create in Acumatica ERP can have credit terms specified. As a result, these documents can include a cash discount.

Debit and Credit Adjustments: Refunds

A refund serves as a payment for a debit adjustment. When you receive a refund from a vendor and enter it into the system, you should create a debit adjustment in the same amount for the same vendor and pay for this adjustment by using the refund. Once the refund is applied against the debit adjustment and released, both documents become closed.

Debit and Credit Adjustments: Implementation Checklist

To ensure that the system is configured properly for processing debit and credit adjustments, make sure that the criteria listed in the table have been met in the system as described.

Debit and Credit Adjustments: Generated Transactions

When you release a debit or credit adjustment, the system generates a batch of transactions to record a decrease or increase of liability.

Debit and Credit Adjustments: Mass Processing

This topic explains how to release multiple AP debit and credit adjustments and the rules that the system uses to group the prepared documents.

Debit and Credit Adjustments: To Process a Debit Adjustment

The following activity will walk you through the process of creating and releasing a debit adjustment and applying it to a bill.

Debit and Credit Adjustments: To Process a Debit Adjustment with a Cash Discount

The following activity will walk you through the process of processing a debit adjustment with a cash discount.

Debit and Credit Adjustments: To Process a Credit Adjustment

The following activity will walk you through the process of creating and releasing a credit adjustment.

Debit and Credit Adjustments: Related Reports and Inquiries

This topic describes the reports, inquiries, and forms you may review to gather information about debit and credit adjustments and how they affect vendor balances.

Processing Debit and Credit Adjustments

Once it has been released, an accounts payable document cannot be edited or deleted; to correct it, you can issue an adjustment. Debit adjustments decrease the accounts payable balance, and credit adjustments increase the accounts payable balance (that is, they increase your company&rsquo;s liabilities).{br}

In this chapter, you will learn how to create debit adjustments and credit adjustments.
==In This Chapter{nestedtopics}==
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_and_Credit_Adjustments_GeneralInfo|Debit and Credit Adjustments: General Information]
*:To correct released AP documents, you create debit adjustments and credit adjustments on the [HelpRoot_FormReference\AP_30_10_00|Bills and Adjustments] ([~/?ScreenId=AP301000|AP301000]) form.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_Credit_Adj_Debit_Adj_with_Cash_Discount|Debit and Credit Adjustments: Debit Adjustments with Cash Discounts]
*:Debit adjustments that you create in Acumatica ERP can have credit terms specified. As a result, these documents can include a cash discount.
*[HelpRoot_AccountsPayable\AP__con_Debit_Adjustments_Vendor_Refunds|Debit and Credit Adjustments: Refunds]
*:A refund serves as a payment for a debit adjustment. When you receive a refund from a vendor and enter it into the system, you should create a debit adjustment in the same amount for the same vendor and pay for this adjustment by using the refund. Once the refund is applied against the debit adjustment and released, both documents become closed.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_and_Credit_Adjustments_Implem_Checklist|Debit and Credit Adjustments: Implementation Checklist]
*:To ensure that the system is configured properly for processing debit and credit adjustments, make sure that the criteria listed in the table have been met in the system as described.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_and_Credit_Adjustments_Transactions|Debit and Credit Adjustments: Generated Transactions]
*:When you release a debit or credit adjustment, the system generates a batch of transactions to record a decrease or increase of liability.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_and_Credit_Adjustments_MassProcessing|Debit and Credit Adjustments: Mass Processing]
*:This topic explains how to release multiple AP debit and credit adjustments and the rules that the system uses to group the prepared documents.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_Adjustments_Process_Activity|Debit and Credit Adjustments: To Process a Debit Adjustment]
*:The following activity will walk you through the process of creating and releasing a debit adjustment and applying it to a bill.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_Credit_Adj_Debit_Adj_with_Cash_Discount_Activity|Debit and Credit Adjustments: To Process a Debit Adjustment with a Cash Discount]
*:The following activity will walk you through the process of processing a debit adjustment with a cash discount.
*[HelpRoot_AccountsPayable\Finance_Processing_Credit_Adjustments_Process_Activity|Debit and Credit Adjustments: To Process a Credit Adjustment]
*:The following activity will walk you through the process of creating and releasing a credit adjustment.
*[HelpRoot_AccountsPayable\Finance_Processing_Debit_and_Credit_Adjustments_Reports_Inquiries|Debit and Credit Adjustments: Related Reports and Inquiries]
*:This topic describes the reports, inquiries, and forms you may review to gather information about debit and credit adjustments and how they affect vendor balances.