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Old 05-07-2020, 03:33 AM
F. Bafagih F. Bafagih is offline
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Join Date: Apr 2020
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Adjusted vendor invoice amount

We have a contract with one of our vendors for an entire year. We normally pay them every quarter either by cheque or electronic transfer of funds for the three months' service rendered. Recently, they gave us a discounted price for the monthly charge from the beginning of the month till the end of the year. The original bill that was entered was for the full amount for the year. How can I record the adjustment in Sage50 to reflect that the amount has reduced?
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Old 05-07-2020, 06:06 AM
SteelerFan SteelerFan is offline
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Join Date: Jan 2009
Location: Pittsburgh
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You can issue a credit memo (negative purchase).

You can also edit the original purchase invoice to the new amount, and your vendor ledger will show a credit balance.
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