Reversing Purchase Estimates

Introduction

The estimate reverse process should be used to remove estimates you no longer need.

1. You place an order for £100

2. You receive £80 worth of stock

3. You book off the order and request a credit note for £20

4. You now have an estimate invoice for £100 and an estimate credit note for £20

5. The supplier sends in their invoice and amends the value to £80

6. This leaves you with an invoice for £80 and an outstanding credit note estimate for £20 which you no longer require

This guide walks you through the process of reversing - removing - that credit note estimate whilst keeping an audit trail of it.

Assumptions

You have created estimates through the booking off process or have manually entered them in the finance module.

Where to find this

Outlet Finance > Purchasing

Set-by-Step Guide

1. If using electronic invoicing, you may have invoices that need approval in which case you will see this box when you go to Purchasing. Click Continue to bypass this task for you.
   
   
   

   Open

   

    

2. Click Estimates

3. Click Combine/Reverse to see all outstanding estimates regardless of when they were entered.  
   
   

   Open

   

    

4. Click the suppliers list and select the supplier you are going to work on. This will show the outstanding estimates for this supplier
   
   

   
   
   

5. If there are estimates that you no longer require, place a tick in the box next to them. This can be one estimate or multiple. Please note that you can only reverse multiple account invoices or multiple credit notes together, you can’t tick a credit note and an account invoice and try and reverse them together.

6. Select Reverse Estimate in the action box at the bottom

7. Click Save. The page will update and the estimate will no longer appear in the list

8. In Invoices, you will see the original estimate, eg IND12345 (OE) and the estimate reversal, eg IND12345 (est reverse) and the two added together = 0.