Creating Purchase Credit Memos

You usually receive purchase credit memos when you return items to a vendor, but you can also receive them as compensation - a purchase allowance. In addition, you can use a purchase memo to correct an incorrect purchase invoice.

When you post the credit memo, the program creates a posted credit memo. If you have placed a check mark in the Return Shipment on Credit Memo field, posting the credit memo will also create a posted return shipment.

From the credit memo, you can copy all types of purchase documents, quotes, orders, invoices, receipts and return shipments. This way, the program can fill in the header and lines for you.

If you use the invoicing facilities in the program, it is a good idea to use purchase credit memos, too. They make it easier for you to manage your payables.

To Create Purchase Credit Memos:

  1. Open the Purchase Credit Memo window.

  2. Press F3 to create a blank credit memo.

  3. Press F3 to create a blank credit memo.

  4. Fill in the No. field.

  5. In the Buy-from Vendor No. field, enter the number of the vendor to which you returned the items.

  6. If you want to post the credit memo to a different vendor than the one specified on the General tab, enter the number of that vendor in the Pay-to Vendor No. field on the Invoicing tab.

  7. In the Posting Date field, enter the posting date.

  8. In the Vendor Cr. Memo No. field, enter the number that the vendor uses for the credit memo you are creating.

  9. If the purchase credit memo will be applied to an invoice that has already been posted, fill in the Applies-to Doc. Type field and the Applies-to Doc. No. field on the Application tab.

  10. On the credit memo lines, enter information about the items that you have returned. If the credit memo will be applied to a specific posted invoice, you can open that invoice in the Posted Purchase Invoices window.

If a vendor is also recorded as a contact in the Relationship Management application area, and if you have specified an interaction template code for purchase credit memos in the Relationship Management Setup window, when you click Print to print the credit memo, the program automatically records an interaction in the Interaction Log Entry table.

Related Topics

Correction of Incorrect Posted Documents

Copying Information from Purchase Documents to Purchase Credit Memos

Viewing Purchase Credit Memo Statistics

Viewing Additional Information about Purchase Credit Memos

Assigning Item Charges to Purchase Documents