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

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

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.

 

If you have questions, please contact us. Please stay tuned for more helpful Sage 100cloud tips and tricks.

Mike Renner – Partner

WAC Solution Partners

local: 760.618.1395 | toll free: 866.400.0WAC (0922) | mobile: 253.861.3120

Single Source Provider of Turnkey Business Accounting & Management Software

 

By | 2021-07-20T16:51:48+00:00 July 20th, 2021|Sage 100 tips and tricks|Comments Off on Sage 100Cloud – Accounts Receivable why and how do I do a Credit Memo ?

About the Author:

Mike Renner
Over 25 years in the accounting software industry. Mike is also an Acumatica, Abila and Sage Certified Consultant and Trainer and a recognized leader in the design, implementation and support of ERP and Accounting systems, including Acumatica, Sage and Abila. Specialties: Acumatica Cloud ERP, Sage 100 ERP (formally Sage MAS90/200), Abila MIP Fund Accounting (formally Sage Non Profit Software).
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