Enter a Customer Credit Memo
- From the Tasks menu, select Credit Memos.
- Enter or select the customer ID.
- In the Credit # field, enter the ID that you want to apply to the credit memo.
- Enter the date of the credit memo if it is different from the displayed credit date.
- Enter the due date of the credit memo if it is different from the displayed due date.
- Do one of the following:
- If the credit memo is to be applied to an existing invoice for the customer, on the Apply to Invoice # tab, use the drop-down list to select the appropriate invoice. When line-item information for the invoice appears, find the item or items to be returned, and in the Returned column enter the quantity. Sage 50 will automatically restore this quantity to inventory.
- If the credit memo is to be applied to a sale for which there is no existing invoice, on the Apply to Sales tab, enter line-item information for the item or items to be returned or credited, including quantity. Sage 50 will automatically restore this quantity to inventory.
- If you need to adjust the amount of retainage for the job, select the Withhold Retainage tab and either verify that the amount calculated automatically is correct or enter a different amount of retainage for any affected jobs. If you select an invoice from the Apply to Invoice tab, Sage 50 will automatically default the information on the Withhold Retainage tab to the values on the original invoice selected. If you enter credits on the Apply to Sales tab, Sage 50 will use defaults from the Job record and Job Defaults for the GL Account number and retainage percentage.
- If you want to print the credit memo, we recommend that you print it at this time and not from the Select a Report or Form window. To print the credit memo, select the Print button.
- When finished, select Save.
Note: You may want to connect the application amount to the credit memo. For example, if this credit memo is based on an existing invoice no. 106, you may want to type 106-C to indicate that the credit memo is applied to the invoice.
If the line item contains serialized inventory, you
will need to select serial numbers for the item(s).
Select the line item with the serialized inventory item, then select the
Serial No
button to enter or select serial numbers. The Serial
Number Selection window appears. Select
the serial numbers you need and select OK
when you're finished to return to the Credit Memos window. However, if
the Credit Memo has more than one line item that contains serialized inventory,
you can select the OK/Next button
to save the current entry and move to the next serialized item.
Note: In some cases
(for example, when payment is not received at the time the invoice is
entered or when the sale is not invoiced), you will need to issue a refund
check to your customer. How do I issue a refund check?
Tell me how to apply the refund to the credit memo so that both
the memo and the check are reconciled and cleared.