Debit note against the supplier

My supplier has issued me a credit note as I achieved sales target. how this credit note will be adjusted in the account as this is not issued against return of any goods

Debit note doesn’t have to be related to any particular purchase invoice.

And if it’s not (your case), the amount will be debited to Supplier credits account. It will sit as your asset until supplier gives you the physical refund or until they issue you an invoice in which case the amount from this debit note will be applied to that purchase invoice.

I have recieved credit note from my supplier as i have achived the sales target. This credit note is like prize by supplier for achiving sales target. Now i dont know how to adjust this credit note as supplier credit… can some one explain wid screen shot.

To you, the supplier’s credit note is a debit note.

Yes but how to adjust this credit note in my account. Suppose i got a credit note of 100 $how to adjust as debit note

How to create this debit note

Enable the Debit Notes tab using Customize. Once in the tab, click New Debit Note. Complete the screen, allocating the transactions to an appropriate account. In general, receipt of this credit is a form of income, generating an asset you can use to buy things from that supplier.

Like while creating debit note which account shold be selectes… by default it shows suspance account

I’m sorry, but that is something you will have to sort out with your accountant. The rules can vary by jurisdiction. What you are discussing is the subject of rebates, and regulations and standards can be complex.

I mentioned doing this with debit notes, but only because you said you had received a credit note from your supplier. There are other methods, too. Search the web for discussions about rebates.