Treatment of an old credit balance on a supplier statement

I've just started working for a new company and recently received a monthly statement from one of our suppliers. On this statement there is a credit b alance of £525.00 When I queried this with the supplier, due to the age of the credit balance (It goes back 18 months!) they couldn't explain w hy, apart from that it's a credit on our account. I quick reconciliation m y end and I still can't get to the bottom of it.
What would be the correct treatment in order to "claim" the credit of ? ?525.00? Would it simply be a case of raising an internal credit note and then deducting this from the next invoice(s) due for payment, thus using u p the credit balance?
Many thanks in advance for any advice.
Reply to
Richard Evans

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.