Entering Customer Credit Memos
Credit Memos are used to enter sales to a customer. Once a credit memo has been entered several events may then occur. Inventory items can be ordered (Purchase Orders), items shipped or drop-shipped, pick slips, packing slips or credit memos can be generated for some or all of the items in the order as they become available in your inventory. Reports can be generated to list the inventory shortfalls inventory sales. Credit Memos do not affect your financial situation, income statement or balance sheet. they merely act as a placeholder to determine inventory stock levels needed to fulfill sales.
- From the Customers Menu, select Credit Memos. The Credit Memo form will load.
- Enter the Customer ID and click on the open icon right of the Customer ID window. The customer popup window will appear. Select the customer from the list and the information will be pre-loaded into the Credit Memo form.
NOTE: The Customer ID text box also acts as a search box to quickly find customers.
Customer records consist of a main address, billing addresses and shipping addresses. Select the billing address and shipping address from the pull down menus. New addresses may be added to either the shipping or billing address if they cannot be found from either of the menus. Selecting the add/update button will update the database whereas leaving it unchecked will just retain the address for this credit memo.
Drop Ship - If this is a drop ship, select the Drop Ship box and the drop ship search box will appear. Customers can be searched and their shipping information will be entered into the drop down or the shipping address may be entered directly into the address fields.
- Enter the credit memo Post Date and expected Ship Date. Popup calendars will help with the selection.
- Credit Memo Number - Enter the credit memo number. If left blank, the next credit memo number will be automatically generated by the system.
- Enter the customers purchase order number, store id and sales representative. The default accounts receivable account is loaded and can be changed. The customer payment terms are loaded when a customer is selected from the customer popup. If a new customer is entered, the default payment terms are loaded. To change the payment terms, click on the icon next to the terms text field and the terms popup will be displayed. Select the terms for this credit memo and press Save to enter the terms into the credit memo form.
- Enter the inventory items for the credit memo. The form defaults with a single inventory line but more may be added by pressing the Add button located in the lower left area of the credit memo form. Enter the quantity requested.
NOTE: The inventory SKU field also acts as a search field for the inventory popup. To quickly find an inventory item, enter part of the item sku or description and press the icon next to the SKU. The SKU, description and pricing fields will be filled in.
Enter the inventory SKU, description and price (or retrieve from the inventory popup) for the line item. Enter more line items as necessary.
- Enter the shipping charges (or use the shipping estimator to calculate freight charges).
- Select the tax authority, the tax will be automatically calculated.
- Save or Print the credit memo. Error checking will be performed and any errors will be indicated either in a popup for errors before the form is submitted or at the top of the reloaded page (for errors during processing). If the Purchase Order number field was left blank, a number will be assigned by the system. If the Print button was selected, the credit memo will be posted first followed by a popup window displaying the possible forms to print, select the form to print and press the Print button.
Related Topics
Customers
Entering a new Customer
Updating customer information
Setting customer payment terms and credit limits
Checking customer balances
Tax Authorities
Setting up tax authorities
Setting up tax rates
Shipping Estimator
Setting up the shipping estimator
Receiving a credit memo
Credit Memos
Deleting a credit memo
Editing a credit memo
Entering a credit memo
Printing a credit memo