This article will cover if the rebate / holdback payment received from the Vendor / Supplier is more than the cost adjustments completed in Blackpurl
To process a Unit Cost Adjustment in Blackpurl, please review our article - How to Process a Unit Cost Adjustment
Example
- The Dealership received payment for rebates or holdbacks but the amount is higher than what you have processed through Blackpurl
- This would mean you will need to create a Credit Note in Xero on the Vendor / Supplier for the difference of your Blackpurl Cost Adjustment and what they paid
- In Xero, from the header > Business > Purchase overview
- Click on New and select credit note
- Create credit note with the information required Including Cost of Goods (COGS) account that you want to credit / amount / date / Tax type - then click Approved
- Once all credit notes are on the Vendor / Supplier account matching the amount you have received from the Vendor / Supplier, from the Xero Header > Business > Purchase overview
- Select See all
- Find the credit notes you have received the payment for
- Select them one at a time and process the payment for each and click add refund
Reconciling your Bank Line item
- Go to Dashboard and click reconcile on the appropriate bank account
- Find the payment amount you have received in your bank that you want to reconcile with the credit notes and Click on find a match
- Then once open you can search by name or amount
- Click the checkbox beside the line and it will transfer that amount to the bottom section of the page. The amount should have a green box on it then click > Reconcile
