Credit Memo

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Credit Memo


This form allows the user to add, modify and delete Credit Memos. Credit Memos Users are used as a way of crediting the company’s accounts Payable account without returning merchandise to any vendors. Credit Memos will always debit the Accounts Payable Account for the selected vendor and credit any accounts added at their respective amounts. Credit Memos can be printed and posted from here. Once an Credit Memo is posted, it cannot be modified.


Create a New Credit Memo

1- Press the New Button in the Lower left hand side of the screen. This will clear all contents from the form and position the cursor over the customer search button. If you have an unsaved Credit Memo when you click new, the system will prompt you to save the data before continue

2- The “Date” field will show today’s date by default. However, you can change that information by clicking in the date/time picker selection button

3- Search for a vendor either by pressing the Yellow Folder Button or entering the vendor Id in the text box and pressing enter.

4- When you bring the vendor information to the screen all the Bill To/Remit to fields are filled with the customer information

5- If you want to edit the vendor information or you need to add a new vendor to the company, click the “Red Notebook” button to open the vendor setup form (See Customer Setup)

6- Enter any reference number (if available) in the “Order Document” field. In addition to that, you can enter the vendor’s invoice number you are applying this credit to by entering that in the “Vendor Invoice#” field.

7- To add Accounts Directly to the Credit Memo, enter the Account Number below the “GL Account” label, press Enter and the system will query the database for that account. If the account is found, it is added to the grid below. If the Item is not found the GL Accounts search screen will open.

8- The GL Accounts search screen can also be opened either by pressing the “GL Acc” button on the Credit Memo. This form will allow you to search for an Item based on the Account Number, Description or Type. Once you find the Account you are searching for you can press the select button to bring it to the Credit Memo.

9- After the user has added an account to the Grid, he/she can modify the Description Columns with the Appropriate Information. This can be a brief explanation as to why that account is being debited.

10- The user also has to enter the amount that he/she wants to credit for each of the accounts added to the grid. Those amounts will be totaled at the bottom of the form and that’s what will be debited to the customer’s AP account.

11- Before Saving, Updating or posting the user can enter a discount percentage that will be applied to the subtotal of the Credit Memo. In addition to this, the user can add a miscellaneous charge percentage or a shipping amount. All of those figures will affect the Credit Memo total and will post to the appropriate accounts that were setup in the “Setup AP Preferences” Form

12- When all the information is in place, Press the Save Button to complete the Credit Memo and assign an Credit Memo number. This action is not going to affect any Inventory levels in the company. The Accounts Payable and all of the other accounts involved won’t be affected until the Credit Memo is posted.

Print Reports

1- Credit Memo Report. Press this button to print a report that includes the Vendor Information, the accounts involved and the total that will be debited to the vendor’s AP Account. You can use this report as a receipt that you can send to your customers.

Edit Credit Memo

1- After you have saved an Credit Memo and closed the form, you can always come back and edit that information if the Credit Memo is not posted yet. If you know the Credit Memo number you can enter in the appropriate field to bring that Credit Memo up. In addition to that you can press the Search button to find the intended Credit Memo by Salesperson, Order Document or Customer.

2- After you have the Credit Memo in the form, you can make any changes to it and press update. The Update button will save your changes to that database and it will let you know if someone else is working on the same Credit Memo. If that is the case you will be prompted to refresh your data, make the changes and Update again.

Post Credit Memo

1- Click the post button if you are sure about posting the Credit Memo. The system will ask you for confirmation. If you click yes, the system will check for possible flaws in the Credit Memo like Accounts with no description or amount zero. After the Credit Memo is posted you get a confirmation message. You cannot make any changes to a posted Credit Memo. This action won’t affect any inventory information. It will decrease the Accounts Payable balance for the selected vendor. The user will need to apply this Credit Memo to the appropriate Receiving, or Voucher in the Pay One Vendor form.

Replace Invoice #

1- After the Credit Memo has been posted, the user cannot change any of its information. However, there is a way of changing the Vendor’s Invoice number field. Just search for the appropriate transaction, change that number and hit the “Replace Invoice #” button.

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