Ettix guides · Contractor bookkeeping

How to find missing supplier credits for returned materials

A return receipt records what went back to the supplier. A credit memo or statement shows how much was credited to your account. Compare both before you close the month.

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1. Gather the documents for one supplier account

Use return receipts, any credit memos, and the supplier statement for the same account. Keep the invoice or purchase order number as supporting context. The key reference for matching is the supplier’s return number, when both sides show it.

2. Set the statement cutoff

Write down the final date covered by the statement. Check returns and credits through that date. If a return happened after the cutoff, carry it into the next review. A recent return within the period may also still be processing.

3. Compare the expected amount with the credits shown

Use the expected credit shown on the return documents or another confirmed figure. Check for agreed restocking fees, freight or tax adjustments before flagging a difference. Keep each credit memo number so the same credit listed on a memo and the statement is counted once.

4. Separate partial, missing, and unclear credits

Suppose a return receipt shows an expected $840 credit and the statement lists $600 against the same return reference. The difference is $240 as of the cutoff. If the supplier has sent two separate memos against the same return, add them together. If a credit could match multiple returns, review the documents before assigning it.

5. Follow up and record the outcome

For each unresolved return, give the supplier your account identifier, return date and reference, expected credit and the amount already shown. Ask for the credit memo number, posting date or an explanation of the difference. Record what the supplier confirms, and compare it with your own accounts-payable records.

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