Create a Credit Memo

When a credit adjustment for a shortage, damaged goods, or other discrepancy is issued from a vendor, you can create a credit memo type invoice to record the credit.

• When a credit memo is included on a payment voucher, the amount owed the vendor is reduced by the credit memo amount.

• If an invoice has not been submitted for payment when a credit comes in, you can apply the credit directly to the invoice as a discount using the Apply Discount/Premium command.

• If a purchase order is associated with the credit memo, users with the Vendor Invoice - PO Balance permission will be able to view the PO number, PO amount, amount paid to date, and PO balance in the invoice header once the invoice is saved.

• You can display the account code & description fields in the grid by selecting them in the Table Display Settings window.

Create a credit memo

1. Select Vendor Invoice from the Accounts Payable menu, and the Vendor Invoice window opens displaying invoices for all vendors.

2. Click the Add button, and the Add Invoice window opens.

3. Select Credit Memo from the Invoice Type pull-down list — or type c in the field & tab to select Credit Memo —  if it's not the default setting, and the window displays the fields for a credit memo.

4. Complete the following fields as described. Required fields are marked with a red asterisk (*).

   • PO Number: Select from the pull-down list if the credit memo is associated with a particular PO. Only New and Submitted POs are included in the list.

   • Ordering Vendor: If the CM is associated with a PO, the vendor is copied from the PO. Select from the pull-down list, if the CM isn't associated with a PO.

   • Invoice(s): Enter the vendor's credit memo number(s). Note: Credit memos do not tie directly to the original invoice in AptaFund. If the credit memo number is the same as the original invoice number, you may want to add a prefix or other identifier to the credit memo number since invoice numbers must be unique in AptaFund.

   • Payment Vendor: Select a different vendor if needed. If you don't find the vendor in the list, first add it in Vendor Management, then select it here.

   • Transaction Date: Defaults to today's date, but may be changed.

   • Invoice Comment: This information is displayed in the Vendor Invoice window.

   • Description: Optional. The information will only appear in the Vendor Invoice window and on the printed warrant.

• Invoice Date: Defaults to today's date when saved, if none is entered.

• Terms: N/A

• Due Date: N/A

5. Click Save, and the Invoice Items grid is displayed ready to edit the line items. Sample

Continue with Add Items to an Invoice

Return to Vendor Invoice Overview