Training Partner – Apply Credit Memos as Payments

Once you create a credit memo against an invoice, some users are confused that the amount due on the invoice has not changed. Training Partner accounting allows you to use the credit memo as a payment.

It is highly recommended that you ensure that both the original invoice and the credit memo are posted before you apply the credit memo as a payment.

PostedCreditMemo

If either is not posted, it is possible to make changes to either one.

Once they are posted, open up the invoice can create a payment.

NewPayment

From the Method dropdown, select the Credit Memo.

SelectCreditMemoType

Another dropdown called Credit No is displayed. Select the Credit Memo that you wish to apply as a payment against the invoice.

CreditNo

Apply the payment as normal and post.

AppliedPayment

In the above example, the total credit memo was applied. The invoice will be fully paid.

Alert: Training Partner allows you to create a credit memo for only some of the line items on the invoice. If you do this, the Max amount available to apply will be incorrectly shown as the total amount of the invoice. Be careful not to over apply the credit memo in this case.

Customization of this process is available from OSG Consulting Inc. including a fix for the above issue.

Contact: rfage@osgconsulting.net

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