Credit Memos

Use credit memos to record adjustments against invoices. For example, apply a credit memo to decrease the amount that is owed.

From Payables, Credit memos, you can review existing credit memos and add new ones. Use a credit memo's menu to view or edit.

Tip: To specify info that displays, select Columns, choose details to include, and select Apply changes. If necessary, drag and drop the headers to reorder each column.

To quickly locate the credit memo you want, search the list. You can also select Filter to minimize the list or Export to export the list to an Excel .XLSX file.

  1. From Payables, Credit memos, select Add.

  2. Enter general info including vendor, date, amount, number, description, and distribution details. For more information about distributions, see Credit Memo Distributions.

    Tip: To add a credit memo directly from a vendor record, select Add, Credit memo under Activity (or from the action bar). You can also search for and view existing credit memos. When adding from a vendor record, you can't change the vendor.

  3. Apply the credit memo to any open invoices associated with the vendor. A complete list of open invoices displays under Open invoices. To apply the credit, select Apply next to the invoice and enter the credit amount and post date.

  4. For 1099 vendors, enter the box number, state, and amount info. For details, see 1099 Information.

  5. Add custom fields, notes, and attachments as necessary.

  6. Select Save.

From Payables, Credit memos, open a credit memo from its menu or select the credit memo number. You can also access directly from the associated vendor (under Activity or from the action bar).

View and edit info as necessary. For example, you may need to change the amount of the applied credit or post date. Add attachments and notes, view distributions, and manage custom field details. When deleting, note that you can't delete a credit memo associated with transaction activity. You must unapply the credit memo first.

For info about distributions, see Credit Memo Distributions.