Use the AR: Invoices Create Credit Memo button to create a credit memo, and if necessary, reissue a modified version of the original invoice.
Whether you create a credit memo in the same or in a different fiscal month as the original invoice, the system displays the same Billing Period as that of the original Invoice. You may change the Posting Date or Invoice Date without changing the Billing Period, or only change the credit memo Billing Period.
Note: If you create a credit memo manually via the AR:Invoices screen, the Billing Period defaults to the Current Fiscal Period.
To create a AR Credit Memo using the Create Credit Memo button:
- On the Accounts Receivable Menu, click Invoice Entry.
- Enter the original invoice number in the Lookup field and tab off to populate the screen, or use the Lookup tool to find and select the invoice number. WinTeam brings in the original invoice with details.
- Click Create Credit Memo and Yes. The AR Invoice/Credit Memo Reason dialog box displays.
- Type or select the Reason you are creating the Credit Memo. To add a new Reason, double-click in the Reason field, or type a new Credit Memo Reason in the field and click Enter. The Invoice / Credit Memo Reasons add/edit list displays.
- If you want to create a copy of the original invoice and reissue a modified version, select the Create a copy of the original Invoice to modify and reissue check box.
Note: This option is not available for customers set up with Invoice Allocation.
- Click OK to continue. The system:
- Assigns a new invoice number to the Credit Memo
- Populates the Inv Being Credited field
- Displays a negative amount for each item in Invoice Details
- Displays a record selector in the lower left hand corner of the Invoice Entry screen (if you have selected the Create a copy of the original Invoice to modify and reissue check box).
- Verify that the Posting Date from the original invoice falls within the AR Valid Dates for Data Entry. If it does, then it will also be the Posting Date for the Credit Memo. If the Posting Date of the Invoice is not within the range of Valid Dates for Data Entry, the system displays a message that the Posting Date will be updated to the latest valid entry date.
- Compare the last valid entry date to the current date. If the last valid entry date is less than the current date, it is defaulted to the Posting date (otherwise current date is defaulted to Posting date). If you created a copy of the original invoice in order to modify and reissue it, click the record selector to view and edit the new invoice. Record 1 of 2 is the Credit Memo; record 2 of 2 will be the new invoice. Modify as necessary.
- Verify that the original invoice number displays in the Original Invoice field on the new invoice (which is record 2 of 2).