Use credit memos to record adjustments against invoices. You can apply a credit memo to one or more invoices to decrease the amount that is owed.
Note: To access an existing credit memo, select it in the Activity tile on the vendor record.
You add credit memos from the vendor record. You can add credit memos from vendor action bar, or from the Activity tile on the vendor record.
From the vendor record action bar, select Add a credit memo. You can also add credit memos from the Activity tile of a vendor record.
Enter the General information about credit memo. This includes the credit memo date, amount, number, and description. The Credit memo date and Amount fields are required.
Next enter the Distributions section. For more information about credit memo distributions, see Credit Memo Distributions.
You can apply the credit memo to any open invoices associated with the vendor. A complete list of open invoices display in the Open invoices section. To apply the credit, mark the Apply checkbox next to the invoice and enter the credit amount and post date.
If the vendor is a 1099 vendor, enter any 1099 information associated with this credit memo. For more information about 1099s, see 1099-MISC Information.
To add custom fields to this credit memo, select Add under Custom fields. Use custom fields to add additional information about the credit memo, and to further filter records when you search. For more information about custom fields, see Custom Fields.
To add notes to this credit memo, select Add note. For more information about notes, see Notes and Actions.
To edit a credit memo, access and open the credit memo from the Activity tile on a vendor record. From the credit memo, select Edit and make your changes. For example, you might want to change the amount of the applied credit, or post date.
To delete a credit, access and open the credit memo from the Activity tile on a vendor record. From the credit memo action bar, select Delete. Keep in mind, you cannot delete a credit memo that has transaction activity. You must unapply the credit memo before you delete.