Applying credit memos

A vendor might issue you a credit memo to reduce your account balance. For example, you might have returned some merchandise, resulting in an overpaid account. Credit memos are also generated by the Accounts Payable application when you specify and release a prepayment. You apply credit memos to the released invoices with which they are associated.

You will need to specify and release any invoices associated with the prepayment prior applying the credit memo.

Apply a credit memo

  1. Access Credit Memo Application (AP35.1).
  2. Complete the header information to select the credit memo you want to apply.
  3. Specify this information:
    Credit Memo

    Select the credit memo to which you want to apply the invoice(s).

    Credit Memo Suffix

    Credit memos for prepayments are on permanent hold and have a suffix of 1.

  4. Select the Select form action to display the credit memo details.
  5. Select the Apply line action next to each invoice you want applied.
  6. In the Applied Amount field, specify the amount of the invoice you want applied.
  7. Select the Apply form action to apply the amount.