Applying credit memos

The company customers are those where the Automatic Cash Application field is Yes and the Apply Method field is Algorithm, Balance Forward, or Last Statement on the Application tab on Company Customer.

Use this procedure to automatically apply credit memos.

  1. Select Automatic Memo Application.
  2. Select Company or Company Group, but not both.
  3. Specify this information:
    Operator
    If the Operator ID Required check box is selected, then specify an operator code.
    Post Date
    If the Verify Post Date check box in Receivable Companies is selected, then select a Global Ledger posting date. The date is assigned if the associated memo has a post date that is outside of the valid date range.
    Post Date Override
    If you select Post Date, then this field indicates whether post date is assigned to all applications, overriding the Global Ledger dates that are assigned to individual memos.
    Process Level
    To apply memos for a specific process level, select the process level. If this field is blank, then memos for all process levels are included.
    Apply All Credits
    Select whether the application is applied to all credits.
  4. In the Report Distribution section, select a distribution list and export type for these reports:
    • Automatic Memo Application Report
    • Automatic Memo Application Error Report
  5. Click Submit.