![]() ![]() Together, both credit memos will wash each other out.īoth the positive credit memo and the negative credit memo will display on the customer's statement but the bottom line will be a wash. From the Payment account dropdown, select the bank account where you deposited the overpayment to. Select the customer you want to refund from the Payee dropdown. If possible, use the earliest date in the open month as the credit memo date. Select Expense, Add expense or Cheque.If youre in Business view, follow the steps to switch to Accountant view first.Then come back to these steps. If the credit memo is dated prior to the current accounting period, or you don't have the delete button, you may create a negative credit memo. Have a credit from which you cannot issue a refundįirst, if your login profile has administrator privileges and the credit memo date is in the current accounting period, you may delete the credit memo by clicking the delete button at the bottom.If you want to remove a credit memo for any reason: Go to your Print Check screen for processing.How to remove a credit memo or the remaining balance.Create the payment, add an expense line and use the same account used from the receipt.If you haven't already, convert the Client to also be a Vendor.Unpost the Receipt and choose a Suspense Account to apply to in the Sales line.The positive value vendor invoice line needs to be created with the Expense GL Account set to the SUSPENSE account used in your client invoice created in step I. The vendor invoice will need to credit AP and debit SUSPENSE. The vendor invoice, by default, will target/credit your AP account. Create a vendor invoice for the vendor for the refund amount.Select the Apply Prepayment on that client invoice and apply the unapplied amount against it to close out the client invoice and unapplied amount.The positive value client invoice line needs to be created with the Sales GL Account set to your desired SUSPENSE account. Create a regular client invoice that debits AR and credits SUSPENSE for the amount of the open unapplied amount. The client invoice, by default, will target/credit your AR account. ![]() In the case of the refund is due to an Unapplied Amount from a client receipt: Choose the option to apply to an expense account, but instead of an expense account choose the sales account from the regular invoice. Create a payment to the client-vendor.If the advanced bill was paid by the client: This clears the open AR amount and the Unapplied Advance Bill amount from the Advance Bill client invoice. Apply advanced bill invoice to that invoice.The positive value client invoice line needs to be created with the Sales GL account set to the same Sales GL account selected in step I. The client invoice, by default, will target/credit your AR account. And dont create a credit memo when you already have a Customer Overpayment condition. That money over what they owed is a Credit already. The negative value client invoice line needs to be created with the Sales GL account set to your desired Suspense account. There is no Delayed Credit when you got actual Money. The client invoice credit memo, by default, will target/credit your AR account. If the advanced bill was not paid and not applied: In the case of the refund is due to an unused portion of an Advance Bill Client Invoice: Go to the Print Checks screen under the Purchasing menu to print the refund check.Go to Select Invoices for Payment under the Purchasing menu and create the payment.The positive value vendor invoice line needs to be created with the Expense GL Account set to the SUSPENSE account used in your credit memo in step I. The vendor invoice, by default, will target credit your AP account. The vendor invoice will need to credit AP and debit SUSPENSE. Select the Apply Credits tab on that client invoice and apply the credit memo against it to close out both client invoices.The client invoice line needs to be created with the Sales GL Account set to your desired SUSPENSE account. An ARPYMT is composed of header information and one or more payment detail ( ARPYMTDETAIL) objects. Create a regular client invoice that debits AR and credits SUSPENSE for the amount of the open credit memo. An AR payment is a transaction used to record a payment against an AR invoice or an AR adjustment/debit memo.These steps assume that the client has an unapplied credit memo that you need to refund to the client: ![]()
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