Hi there, I have a mobile contract with a third party supplier for Vodafone. This third party supplier gives my company a monthly credit so that my Vodafone contract is pretty good value. My issue is how do I record the credit notes that the third party is issuing? I cannot set them off against the Vodafone invoices, and the system does not expect a supplier to be issuing credits. Is there a way to offset the credit against the telephone nominal directly? I would appreciate your help.
Hello @EllieL
There may be a few ways to record this, I have outlined an example below
- Set up the 2 suppliers (Mobile Provider & Vodaphone)
- Set up a holding account/merchant account in the bank screen
- Record Vodaphone invoice (e.g. £50)
- Record The credit on the Mobile Provider account (e.g. £10)
- Refund the credit using the holding account/merchant account
- Record or tag the £40 on your main bank as Money out /bank transfer to the holding account/merchant account
- Pay the Invoice using the Balance of the Merchant account (£50)
Thank you so much! Really appreciate your help. I just drew a blank with this.I will try this approach.