Create, View, and Edit Credit Memos

Buyers and suppliers can view Credit Memos from the Main Menu and create them from Invoices and Purchase Orders.

See the Documentation Topics:

Approve Credit Memos

Credit Memo Reconciliation Grid and Details

Failed Credit Memos Grid

User Permissions (ACL)

Overview

Credit Memos are used to reverse payments and issue refunds to the buying organization. They can be issued against invoices or purchase orders. Creation of Credit Memos is governed by permissions granted in the Admin Control Panel.

Credit Memos may be PO based or Non PO Based. Permissions for editing Credit Memos during the approval workflow may be granted to users for PO based and Non PO based Credit Memos for specific fields. 

Users with Global Invoice Search and Create Invoice Credit Memos permissions may create Credit Memos from the Invoice grid or Invoice details page. 

Create Credit Memo 

Both buyers and suppliers can create Credit Memos from the Credit Memo grid or from an invoice or purchase order. 

Create Credit Memo from Invoice or Purchase Order 

Create a Credit Memo from an Invoice or Purchase Order from either the Credit Memos listing or from the Invoices or Purchase Orders listings in the PAYABLES section of the Main Menu.

Users with Global Invoice Search and Create Invoice Credit Memos permissions may create Credit Memos from the Invoice grid or Invoice details page.

Choosing Create Credit Memo from Invoice lists all the Invoices that permit the creation of a Credit Memo.

Create a Credit Memo by clicking on that option in the ACTIONS list. 

Create Credit Memo from PO

Choosing Create Credit Memo from PO lists all the Purchase Orders eligible for the creation of a Credit Memo. A Credit Memo may be created when a Purchase Order status is: Ordered; Partially Received; Fully Received; Fully Received Closed.

Eligible purchase orders may have multiple Credit Memos created against them.

Review and Complete Credit Memo Information 

The Create Credit Memo form displays with Credit Memo Information provided by system defaults or the PO or Invoice it is originating from. 

View Credit Memos in Grid

Access a grid listing of Credit Memos in the PAYABLES section of the Main Menu.

Find and access Credit Memos from the grid. 

1. Search for a specific Credit Memo by Credit Memo or Purchase Order Number. 
2. Use the Filters to locate a Credit Memo.
3. View Credit Memo or Edit Credit Memo (with proper permissions).

View Credit Memo Details

In the Credit Memo Detail page, you can view information and provide comments to an existing Credit Memo:

1. The status of the Credit Memo is shown next to its ID.
2. View Related Records available for the Credit Memo, such as Invoice or Purchase Order. 
3. Review Credit Memo Information at the Header level such as status, creation date, due date, remittance address, shipping address of the PO.
4. Review information for Line Items.
5. Choose between Summary and Detail view for Line Items, as needed.
6. View any available Attachments.
7. View and Post Comments. 
8. Review the History of the Credit Memo.
9. Note that the History will include any exceptions that have been auto cleared for the Credit Memo. 

Edit Credit Memo

Users with Permissions to edit PO Based or Non PO Based Credit Memos may edit Credit Memos in Pending Approval and Failed ERP Validation states by selecting Edit Credit Memo from the available ACTIONS in the Credit Memo Grid. 

For PO Based Credit Memos, the Remit To and Ship From fields may be set to be editable.

For Non PO Based Credit Memos,  Requestor (must be in the same Content Group), Remit To, Ship From, Shipping, and Billing may be set to be editable. 

1. Credit Memo type is Non PO Based. Fields allowed to be edited are listed here. 
2. The Requestor may be changed, but must be in the same Content Group.
   Requestor is also updated on related Credit Memos. 
3. Remit to may be editable.
4. Ship From may be editable.
5. Shipping may be editable.
6. Billing may be editable.
7. Line Details, Taxes, Shipping, and Accounting may be editable.
   Note

   If the system has been configured to Validate Accounting Combinations, Accounting Groups configured to be validated that include invalid accounting values will trigger errors shown in red.
8. Use Submit to Save the Edited Credit Memo.
   The History of the Credit Memo is updated with any edits made and Approval rules will be reevaluated and triggered as appropriate. 

Credit Memo Available During Invoice Reconciliation

Credit Memos may be referenced during invoice reconciliation so that reconcilers are provided with all the documents related to an invoice to make an informed decision. Credit Memos are displayed below invoices on the Invoice Reconciliation page.

Credit memos are available from the Related Records dropdown in addition to being listed in the Header or Line Details area below the invoices.