Kite Invoice - How to create Debit Note / Purchase Returns for BILL (Free Online Invoice Billing Software with Inventory and Accounting)

Kite Invoice is an online invoice billing software package developed and marketed by Kite Technology Solutions. Kite Apps are targeted mainly towards small and medium-sized businesses and offer as cloud-based version that Track Invoices, Bills, Warehouse, Inventory and more.

Cost effective best alternative software like leading Quickbooks, Zoho books, Freshbooks, Wave, Xero

Assume that Bill is received from the supplier and products also are received. Assume that Payment is settled for the Bill as well.

Steps.

Kite Invoice handle the Purchase Return, as two step processes.

• First need to create a Debit Note on the Bill. This will reverse the Purchase and Inventory Accounts in the app.

• Next need to create a Refund Payment for the Payment transaction of the Bill for which Debit Note was created. This will reverse the Payment Accounts in the app.

• The above two steps will tally the Bill with Debit Note and Purchase Return will be completed.

Steps for Debit Note.

• Select the Bill for which to raise Debit note transaction by right click on Bill, then select the 'Debit Note' menu from the popup.

• It will display the list of Debit notes for that Bill, click '+' on the top, will bring up the the Debit note details where you can specify the quantity, price, tax for that Bill by clicking on the Debit note items grid which popups the Debit note item detail screen for that item.

• Now you can specify the quantity to return and save the Debit Note transaction as 'Draft' and send it to supplier later or send it directly to the supplier and marked as 'Returned'.

Steps for Refund Payment.

• Now select the Bill for which to Refund Payment transaction by right click on the Bill, then select the 'Payments' menu from the popup.

• It will display the list of payments for that Bill, right click on any payments in the grid for which to create 'Refund Payment Transactions'.

• It will display the list of Refund Payments for that Bill payments, click '+' on the top, will bring up the the Refund Payment details where you can specify the amount to be refund, payment mode, notes.

• Negative balance amount in the Bill list screen, indicates the refunded amount for that Bill.

Bill list screen

Debit Note detail screen

Debit Note Item detail screen

Bill Payment list screen

Refund payment detail screen

Bill refund payment list screen

Updated bill detail with negative balance

Need Kite Invoice Help? 

Write to us at  contact@kiteinvoice.com or visit us online at https://kiteinvoice.com