To Create a Credit Memo

  1. Open the Invoices and Memos (AR301000) form.
    Tip: To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
  2. On the form toolbar, click Add New Record.
  3. In the Type box of the Summary area, select Credit Memo.
  4. In the Date box, enter the credit memo date.

    The Post Period box is filled in automatically based on the selected document date.

  5. In the Customer box, select the customer associated with the credit memo.
  6. In the Location box, check the customer location.
  7. If needed, in the Customer Order Nbr. box, enter the reference number assigned by the customer to the customer document.
  8. Make sure the document currency in the Currency box is the one you need, and change it, if needed.

    The currency may be overridden only if the Allow Currency Override check box is selected for the customer on the Customers (AR303000) form.

  9. In the Description box, add a brief description of the credit memo or the reference number of the original invoice.
  10. On the Details tab, for each line of the credit memo, click Add Row on the table toolbar and do the following:
    Note: A credit memo must include at least one line.
    1. If needed, in the Inventory ID column, enter the ID of the item sold or the service provided to the customer.
    2. If needed, in the Transaction Descr. column, enter a description of the transaction.
    3. If needed, in the Quantity column, enter the quantity of the item sold.
    4. If needed, in the UOM column, enter the unit of measure for the item.
    5. If needed, in the Unit Price column, enter the price per unit.
    6. In the Ext. Price column, enter the extended price. If you have specified an inventory item, the system calculates the extended price by multiplying its unit price and the quantity sold, but you can override the calculated price.
    7. Check the Account column. By default, the system uses the sales account associated with the customer location, but you can select another account.
    8. Check the Subaccount column if applicable, and change it, if needed.
    9. If needed, in the Salesperson ID column, select the salesperson associated with the customer.
    10. If needed, in the Deferral Code column, select a deferral code if the expenses related to the item or service must be recognized in future periods.
  11. To save the document with the Balanced status, perform one of the steps below:
    • If the Amount box of the Summary area is available on the form, enter the total amount of the credit memo.
    • If the Amount box is not available on the form, notice that the total amount of the document is displayed correctly in the Balance box.
  12. On the form toolbar, click Save.