To Enter a Credit Memo with Retainage

You create a credit memo with retainage by using the Invoices and Memos (AR301000) form.

To Enter a Credit Memo with Retainage

1. Open the Invoices and Memos (AR301000) form.
2. On the form toolbar, click Add New Record to initiate a database entry for a new document.
3. In the Type box of the Summary area, select Credit Memo.
4. In the Date box, change the current business date if needed.
5. In the Customer box, select the customer associated with the document.

   The system fills in the following boxes automatically with the default settings of the selected customer: Location, Apply Retainage, and Pay by Line.

6. If the Apply Retainage check box is not already selected, select it.
7. If you want to apply the credit memo on the line level, select the Pay by Line check box.
8. If required, in the Project/Contract box, specify the project or contract with which this document is associated or the code indicating that this document is not associated with any project.
9. Optional: In the Description box, add a brief description of the credit memo.
10. On the Details tab, for each detail line of the credit memo, click Add Row on the table toolbar, and do the following:
    1. In the Branch column (if it appears), ensure that the system has specified the correct branch. Specify another branch, if needed.
    2. In the Ext. Price column, enter the total amount (including retainage and before the line discounts) for the line.
    3. Check the Retainage Percent and Retainage Amount columns, and change the value in one of the columns if necessary. (The system will automatically change the value in the other column based on the value you specify.)
    4. In the Account column, ensure that specified account is correct.
    5. In the Subaccount column (if it appears), ensure that the specified subaccount is correct.
11. If you want to save the document with the On Hold status, click Hold on the form toolbar.
12. If you want to save the document with the Balanced status, click Remove Hold on the form toolbar.
13. On the form toolbar, click Save.
14. To release the credit memo, click Release on the form toolbar.

Notes About the Procedure

The notes in this section describe the nuances of the UI elements available on the form, such as when an element is required and when it is not, and when the system fills in settings by default. This section can include other notes.

Note the following about the Summary area of the form:

• The system fills in the Post Period box automatically, based on the specified document date.
• The Location box appears on the form and is required only if the Business Account Location feature is enabled on the Enable/Disable Features (CS100000) form.
• The Project box appears on the form only if the Project Accounting feature is enabled on the Enable/Disable Features form.

Note the following about the Details tab:

• The Branch column appears only if the Multibranch Support feature is enabled on the Enable/Disable Features form.
• In the Account column, the system specifies the sales account associated with the customer location if the Inventory ID column is empty.
• In the Subaccount column, the system inserts the subaccount generated in accordance with the rule in the Combine Expense Sub. from box on the Accounts Receivable Preferences (AR101000) form. You can manually change the subaccount if necessary.
• The Project Task column appears only if the Project Accounting feature is enabled on the Enable/Disable Features form.