The Purchases Batch Entry option is to record purchase invoices received from trade suppliers for purchases made by the business. To reverse a previously entered purchase batch entry transaction or to raise a credit note against a previous transaction simply return to the original batch entry transaction screen and enter a minus amount against the appropriate accounts.

Purchases >  Batch Entry 

1. Reference - This is the internal reference that will cross-reference the original physical invoice received from the Supplier which is being reversed / the credit note being entered.
2. Date - Date of original purchase invoice being reversed / credit note issue date.
3. Supplier - Select the Supplier name from the list of Suppliers (F2) to which the original purchase-related that you are reversing/issuing the credit note.
4. Narrative - The Narrative field is an optional entry which may be used to give an extra explanation or identify further the purpose of the reverse entry/credit note issue. It would be advisable to use this field to reference the original batch entry purchase transaction that you are reversing in the case of reversals.
5. Nominal Account - Select the same original purchase/expense account to which the original purchase invoice was posted.
6. F5 - The F5 function key will display a historical breakdown of the transactions on the Supplier account (N.B. excluding any transactions within the current live batch as such entries have not been posted).  This will help identify the original purchases/expense account to which the original purchase was posted which should be selected for this transaction entry.
7. Amount - Enter the Gross amount (bottom line figure inclusive of VAT) as a MINUS figure.
8. VAT Rate - The VAT rate is automatically linked to the appropriate purchase account used, e.g. is you choose Purchases at a low rate then a VAT rate of 13.5% will automatically be linked to the purchase.  If you require a different VAT rate to be applied to the transaction entry then simply arrow through the VAT rates shown. Simply stop on the appropriate VAT rate and this will apply to the transaction.
9. Post Entries - Select Post Entries to process the transactions once the batch is complete.

Note: If applicable, any VAT element attached to the reversal will flow through to the next VAT return prepared.