Create Purchase Returns

Overview

The Purchase Return Order process allows you to return goods to your vendor, remove inventory from stock, and process a credit for the return. Follow these steps to complete a Purchase Return Order in GoldFinch:

Steps to Create a Purchase Return Order

1. Enter Vendor Information:

   • Open the App Launcher and search for Purchase Orders.

   • Create a new Purchase Return Order by entering the vendor’s information.

2. Enter Item Information:

   • Enter the Item(s) you are returning in the purchase lines.

   • Enter the Quantity as a negative number, since this transaction will remove inventory from stock.

   • Check the Return Order field to indicate that this is a return transaction.

3. Save the Purchase Return Order:

   • Once all relevant details are entered, click Save.

Creating the Warehouse Receipt for the Return

Create Warehouse Receipt:

1. Create a Warehouse Receipt from the Purchase Return Order. The system will default the Bin to the designated Return Bin.

2. Ensure the inventory is moved into the Return Bin before posting the receipt. To move inventory into the return bin, refer to the Warehouse Movement process.

Enter Lot Numbers for Lot-Tracked Items:

• If the items being returned are Lot Tracked, you will need to enter the Lot Numbers for the items:

  • Edit the related warehouse receipt line that requires Lot Tracking.

• Select Add Tracking Lines.

• Enter the Lot No(s) being returned and the Quantity for each lot number.

• Save the Tracking Lines.

Post the Warehouse Receipt:

• After entering all necessary tracking information, post the Warehouse Receipt to complete the return.

Create a Credit Memo for the Return

Create the Credit Memo:

• From the Warehouse Receipt, select Create Invoice to generate a Credit Memo. This acts as a negative invoice for the return amount.

• Post the Credit Memo

Enter Credit Memo Information:

• Enter the Vendor Credit Memo No.. This field is required and must be unique for that vendor.

• Enter the Credit Memo Posting Date.

• Post the Purchase Credit Memo

This process ensures that returned inventory is correctly recorded, and the corresponding credit is applied to the vendor account.