Sage 100Cloud - Accounts Receivable why and how do I do a Credit Memo ?

Question: Mike, In Sage 100Cloud Accounts Receivable why and how do I do a Credit Memo ?

Answer:

Normally an Accounts Receivable Credit Memo is done because of a return of some kind, such as you originally ordered 7 cases of paper, one might have been damaged so the credit memo is sent to document the return and there is a paper audit trail. It can also be used for a customer account write-off. But the key is that the credit memo is much like an invoice and does show up on the Accounts Receivable Aged invoice report.

The first step is Accounts Receivable>Main>Invoice Data Entry, type in the invoice number with a CM at the end, after you enter you will note the system converts to 4567-CM instead of

IN. Add the customer number and go to lines just like a normal invoice.

Second step, type in an item code, note you do not have to make the amount negative. Because you used a CM for Credit Memo the system automatically converts the lines to negative.

Third step, Accept and print, you will note that it prints as a Credit Memo with a negative amount. Update and post as normal.