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Exchange of Merchandise for a Credit Memorandum
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Ships Serviceman 1 & C - Administration manual for fixing navy boats
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Return of Merchandise to Vendor for a Cash Refund
expended from the Stock Record (NAVSUP 464), and  the  total  balance  should  be  reduced.  No entry  is  made  on  the  cost  records  (Journal  of Receipts and Journal of Expenditures) since the Navy’s  obligation  to  the  vendor  remains  un- changed.   The   vendor   then   signs   the   original DD  1149  to  acknowledge  receipt  and  issues  a credit  memorandum  to  your  ship. A  month  later,  your  ship’s  store  may  decide to   order   more   albums—cost   value   $80.   The vendor  can  then  apply  the  $50  credit  memoran- dum to your order. You should prepare an Order for  Supplies  or  Services/Request  for  Quotations (DD 1155) showing $30 as the net amount to be paid.  Upon  receipt,  the  full  quantities  received  are posted  to  the  Stock  Record  (NAVSUP  464),  and the  net  amount  is  reported  in  the  Journal  of Receipts  (NAVSUP  Form  977).  The  DD  1155  is handled as a regular receipt from purchase. The original  DD  1149  (signed  by  the  vendor)  should be  placed  in  the  ship’s  store  officer’s  Account- ability File. At  the  end  of  the  accounting  period,  if exchanged  items  have  not  been  received  for  the items  returned  or  if  a  credit  memorandum  has been  received  but  has  not  been  applied  toward procurement of new items, the dollar value of the returned  items  must  be  carried  as  part  of  the inventory.  The  document  number,  date,  and dollar value of each transaction should be listed on  the  last  page  of  the  inventory. CASH REFUND.— Using the same situation as above, assume that your ship’s store does not deal with this vendor very often. In this case, you would  advise  the  ship’s  store  officer  to  request a cash refund instead of a credit memorandum. The   recordskeeper   prepares   an   Intrastore Transfer  Data  (NAVSUP  973)  to  expend  the  value of the items from the Retail Store column of the Ship’s   Store   Afloat   Financial   Control   Record (NAVSUP  235)  and  to  transfer  the  quantity  to the bulk storeroom. A Memorandum Requisition and  Invoice/Shipping  Document  (DD  1149) extended  at  cost  price  should  be  prepared  and used  to  expend  the  returned  quantity  from  the Stock  Record  (NAVSUP  464).  The  vendor  will acknowledge receipt of the returned merchandise by  signature  on  the  DD  1149.  When  the  retail outlet  and  the  bulk  storeroom  are  operated  by  the same  person,  a  DD  1149,  extended  at  both  cost and retail price, should be prepared and used to expend  the  quantity  and  value  of  the  returned items from the NAVSUP 464 and NAVSUP 235. The  vendor  will  acknowledge  receipt  of  the merchandise  by  signature  on  the  DD  1149,  except for  any  material  returned  to  the  vendor  by registered mail. (In this case, the registered receipt from   the   post   office   should   be   attached   to the  accountable  copy  of  the  DD  1149  pending receipt of the signed copy from the vendor.) The responsible  custodian  will  be  provided  a  signed copy  of  the  credit  memorandum  for  all  stock returned.  Sound  business  practice  dictates  that all  credit  memorandums  and  cash  refunds  be liquidated  promptly.  If,  after  a  reasonable  time period,  liquidation  has  not  yet  taken  place  and difficulties  are  encountered,  you  should  request assistance  from  NAVRESSO.  Be  sure  to  send copies  of  all  correspondence  with  the  vendor  to expedite NAVRESSO’s assistance. The documen- tation involved is illustrated in figure 5-2. More detailed  information  is  contained  in  your  NAV- SUP  P-487. EXCHANGE   FOR   SIMILAR   ITEMS.— Whenever  you  return  items  for  new  similar  items, you must prepare a DD 1149 to cover the material you  are  returning  to  the  vendor.  The  vendor,  or an  authorized  representative,  must  sign  the original   invoice   acknowledging   receipt   of   the material.  You  should  expend  any  items  you  return to the vendor from the appropriate NAVSUP 464 unless  the  items  exchanged  are  identical  in  all respects. If the items to be exchanged are located in a retail store, you must also prepare a NAV- SUP  973. If  the  items  you  receive  are  not  identical  in all respects to the items you have returned to the vendor, you must post the new items as a receipt on the appropriate NAVSUP 464. If the new items are additional stock items, you should prepare a NAVSUP 464 to post the new items as received for  stock  and  resale.  The  DD  1149  should  be assigned  an  expenditure  number  and  should  be filed in the Expenditure Invoice File (SSA-14). At the  end  of  the  accounting  period,  the  document number,  date,  and  money  value  of  each  un- liquidated  exchange  should  be  entered  on  the  last page  of  the  inventory. MERCHANDISE  RETURNED  FOR  MA- TERIAL  OF  EQUAL  VALUE.—  If  the  money value, at cost, oft he items exchanged equals the money  value  of  the  new  similar  items  received from  the  vendor,  your  DD  1149  should  indicate the  item,  quantity,  unit  cost,  and  extension  of both  the  item  returned  and  the  replacement  item. You  should  use  normal  posting  procedures  for  this transaction. 5-16

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