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Credit Memos

The Credit Memo option is an accounts receivable (AR) adjustment. It allows users to enter credit adjustments to customer account balance. Credit memos decrease a customer's balance with a credit to accounts receivable as defined in Ledger Options, and a debit to the selected account.

The system also allows the use of credit orders, which can be used to return items to inventory and adjust the invoice price on invoices. Credit orders update the gross margin reports and inventory.

Note: Credit memos do not affect the gross margin reports.

Available Actions

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Credit Memo Fields

Customer	The customer code for the credit memo.
Account Balance	The amount currently owed by the customer.
Date Received	The date of the credit memo.
Reference Number	The reference number of the credit memo.
Credit Amount	The amount of the credit memo.
Description	A description of the credit memo.
Account Number	The account number and cost center to debit for this credit memo. F3 show a list of possible options.
Salesperson	The sales rep ID and name.
Broker	The broker ID and name.
Adjustment ID	The adjustment ID to allocate the credit memo amount if the account number entered has the accrual recovery set to Y (Y=yes) in Account.

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