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Issuing a Credit Memo in Acumatica

Published on

Aug 25

Bonnie Molina

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Acumatica AR – Accounts Receivable has the option to make a partial credit memo toward or full reversal of an AR Invoice.  A partial credit memo to apply toward an AR Invoice is created manually and can be applied directly toward the AR – invoice. A full reversal of an AR Invoice creates the credit memo automatically. Both ways the credit memos start by being placed on Hold, Balanced, Opened, and Applied - Released to Close. Before moving on make sure that the credit memo is closed and the reversed invoice is also closed; however, the partial invoice can stay open. 

When working in AR invoices there will be a need to have a partial credit memo applied or a full reversal for various reasons, and Acumatica makes quick work on creating and applying credit memos. Acumatica streamline approach to the user interface makes making AR corrections as easy as recreating an AR Invoice. When creating a partial credit memo, create a new item in Invoices and Memos and in the Document Details, Acumatica allows the user to take the credit memo off hold, applied it to the invoice, and save the credit memo. Release the credit memo and it will close and now there will be application history with the invoice and the invoice will show the application history of the credit memo. The description of the reason for the credit for a brief explanation and then backup documents are added to the file option. 

The same as partial credits, full reversals of an invoice are needed from time to time, and Acumatica has a procedure that allows the invoice to be reversed and the credit memo is automatically created. When this occurs the credit memo will be open, and the invoice will remain open, but no applications will be saved. Before moving on make sure to go into the Credit Memo and choose the Invoice in the Document Details to apply and Release to Close. 

For complete instructions check out CS3 Technology’s YouTube video “Step by step instructions for Acumatica invoices reversals and credit memo processing: ‍

Contract for further assistance. 

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