You can use the Supplier Return Summary Report to reconcile accounting transactions related to supplier returns and credit notes, helping ensure accurate financial reporting for returned inventory and purchase variances. This improves your retail operations efficiency by providing clear visibility into inventory value changes and purchase variance amounts, with properly configured supplier return tracking typically achieving faster accounting reconciliation and better cost of goods sold accuracy.
Setting up supplier return reporting involves understanding credit note requirements, inventory value change calculations, and purchase variance tracking to help retail operators focus on the right supplier transactions, ensuring your retail strategy consistently drives better financial accuracy outcomes.
The Supplier Return Summary Report provides a summary of accounting transactions related to Supplier Returns. This report is perfect for reconciling transactions sent to your accounting package.
To access the Supplier Return Summary Report:
- Navigate to Reports > Accounting Reports > Supplier Return Summary Report
- Update the Filters as required
- Enter a Supplier Return ID to search for a single Supplier Return (all other Filters will be ignored)
- Click Search
- The Results will be displayed
- If a Supplier Return does not yet have a Credit Note applied, the Return will not be included in the results
- Two lines will be displayed per Credit Note:
- Inventory (the total of the inventory value change applied via the Credit Note)
- PurchaseVariance (the difference between the total of the inventory value change and the total Credit Note value) - To Export the report (in either Excel format or CSV) click the Export icons in the top right-hand corner of the report
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