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


For 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 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