Enter a Credit Memo

Select Credit Memos under Payables from the Purchasing & AP menu, and the Credit Memos list window opens displaying outstanding credits.
Click Create Credit Memo, and the New Credit Memo window opens.
Complete the fields as described.

Due Date: Defaults to today's date if left blank.
Transaction Date: Defaults to today's date, but may be edited.
Vendor: Begin typing the vendor name to populate the list, then select the vendor you want.
AP Group: Select from the pull-down list, if applicable. If selected, the A/P group will restrict access to this credit memo based on membership in the group. They are created in Purchasing & AP > Payables > A/P Groups.
Status: Read-only.

To add items to the credit memo, select the number of items you want to add from the Add Item(s) field in the upper right corner of the Items section. The Items section then displays item fields for as many items as you've selected.
Complete the fields in the Items section as described.

Item No.: Optional. Enter the catalog number if applicable.
Description: Enter text to describe the item.
Qty: Enter the quantity being refunded.
Price: Enter the unit price as a NEGATIVE number. For example, if the unit price is 10.00, you must enter -10.00.
Ext. Price: Read only; calculated by the system based on quantity and unit price.
Account Code - Debit: If you're entering a refund from an expensed item, you'll enter the liability account as the debited account. Begin typing the account code to populate the list, then select the code you want.
Account Code - Credit: If you're entering a refund from an expensed account, you'll enter the expense account as the credited account. Begin typing the account code to populate the list, then select the code you want.
Amount: For the first item, the amount defaults to the requisition total.

If you need to allocate the item between multiple account codes, change the amount for this account code, and click Add Coding. Then enter the second account code and amount.
If you don't need to add more account codes, skip to step 6.

Repeat step 5 for all items on the credit memo. Example
Click Create. Once the credit memo is saved, additional tabs are visible. Example
The Ledger Entries tab shows the general ledger impact of the credit memo.
The History tab displays the date/time-stamped actions on the credit memo.

Sample GL impact of bills & credit memos

When a bill is created, the ledger impact is as follows:

When a credit memo is created, the ledger impact is as follows: