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Submitting Credit Memo

  • Updated

A Credit Memo is a document from the vendor (or your accounts payable team) to the customer that reduces the amount owed from a previous invoice and explains why the amount is reduced. This can also be called a credit not.

This article will show you how to submit a credit memo.

 

Step 1: Go to the Invoices tab.

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Step 2: Under the Invoices section, click Submit Credit Memo.

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Step 3: This is the Credit Memo page. You can search for the correspoding vendor by searching by Vendor Name or the PO Number.

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Step 4: After selecting the Vendor, enter the Credit Memo Date and the Credit Memo Number. Once finished, click Create Credit Memo.

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Step 5: To edit the Header, click Edit button.

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Step 6: Edit the Invoice Number and Invoice Date, enter Comments, change the BillTo Department, Credit Card field (if an invoice was paid with a credit card), Check Number field (if an invoice was already paid via Check), and attach any necessary files. Click Save Changes when complete.

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Step 7: Next, add your products. You can add items in a few different ways:mceclip6.png

  • Search: Search product description in your company's catalog and click Search
  • Display products alphabetically from this vendor: Choose from products in your compay's catalog.
  • Create New Product: Create new ad-hoc product for this invoice.

Step 8: Use either Search or Display products alphabetically from this vendor.

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Step 9: Click Add.

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Step 10: In the Line Items box, you will see all of the products you've added to your invoice. You can edit the Qty Ship, Price, Business Unit, GL, and Project. When complete, click Save.

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Step 11: Once you add items to your invoice, you have one of the following options:

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  • Edit: Re-open the line item so you can edit it again.
  • Allocate: Allows you to allocate the line item across multiple Business Units, GLs, or Projects.
  • Remove: Removes the line item from the invoice.

Step 12: Enter your Footer information by first selecting your footer type from the Select Footer Type drop-down menu.

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Step 13: When you're done editing all of your line items, you have three options to continue:

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  • Delete: Deletes the entire invoice.
  • Close: Saves the invoice to come back later.
  • Route: This will send the invoice off for approval.

Then, click Route.

Step 14: You will be brought back to the Invoices page where you will see a message that Your invoice has been routed successfully.

 

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