icon. The Accounts Payable Posting window opens, displaying the Invoice tab.Accounts Payable Basic Procedures
Posting A/P Credit Memos
1
Double-click the
icon. The Accounts Payable Posting window opens, displaying the Invoice tab.
2 Select the vendor for whom you are posting a credit memo. If you need instructions, see Selecting a Vendor in Accounts Payable.
3 After you select a vendor, the Accounts Payable Batch Information dialog box opens. Specify the batch number, the general ledger number, the posting date, the posting period, and the fiscal year for this transaction. Click OK. For detailed instructions, see Specifying A/P Batch Information.
4 When the cursor moves to the Invoice # box, enter the number of the invoice to which you want to post the credit memo and press Enter.
5 After you enter the invoice number, the invoice date and discount percentage appear in the Invoice and Disc % boxes. The cursor moves to the Total $ box. In this box, you can enter the credit memo total, or leave the box blank. Press Tab.
Note: If you enter an amount in the Total $ box and do not specify the exact amount when posting credit memos, you will be notified that the amount you entered in the Total $ box and the amount you specified for credit memos do not match. The Total $ box acts as a guideline to ensure that you enter the proper amount when posting credit memos.
6 The cursor moves to the Invoice date box. At this point, you can change the invoice and voucher date, if necessary.( The Net, Disc %, PO #, and Check # boxes do not apply when posting credit memos.)
To
change the invoice date, click the Invoice box and enter the original date of the invoice. (When more
than one posting is made to an invoice number, the first date entered is used for aging purposes.)
To
change the voucher date, enter the date you want the credit applied. To apply the credit the next time
checks are printed, enter the invoice date.
7 Next click the Payments box and enter the amount of the credit, and press Tab. If you are entering a credit for an invoice on which a discount has been taken, deduct the amount of the discount from the credit total. For example, if the credit memo is for $100, but a discount of $10 has already been applied, you would enter 90 in this box.
Note: The Charges box does not apply when posting credit memos.
8 The Rev GL box represents the reverse general ledger number for this transaction. With the cursor in the Rev GL box, click the down arrow and click the appropriate reverse general ledger number for the expense account that the invoice was originally debited to.
9 In the Remarks box, enter the general ledger information that describes this line entry. For example, you might enter CREDIT. If the posting is for furniture, you might enter CREDIT-FURN. If it's for supplies, you might enter CREDIT-SUPP, and so on. You can enter up to 14 alphanumeric characters.
Note: Do not use the words DISCOUNT or DISC in the Remarks box. If you do, the information stays in the system and cannot be deleted.
10 In the PO Number box, you can enter a purchase order number for your own reference.
11 The Disc% box displays the discount percent, if any. If there is an amount in this box, you must clear it. To do so, highlight the amount, press Delete, then press Tab. If there is no amount in this box, press Tab. (The amount in the Discount $ box will automatically clear when you delete the percentage in the Disc % box.)
12 Leave the Check # box blank. This box does not apply when posting credit memos.
13 Press Enter. The credit memo moves down one line, and the cursor returns to the Charges box. At this point, you can post another entry to the same invoice number for this vendor. To do so, enter the information for this line of the credit memo in the Payments through Check # boxes.
14 When you finish this line, press Enter. You can continue to enter as many lines to the credit memo as necessary. After you finish, you can post the information. Go to Posting A/P Information.
See also: