Purchase credit memo
The credit memo reduces what you owe the vendor: for returned goods, an extra discount or a price correction. The menu is .
How it's made
- From a purchase invoice: Actions > Purchase credit memo, Purchase credit memo + Purchase return receipt or Price correction: Corrections, returns and transfers.
- From a return order or a purchase return receipt, with Make a credit memo.
- Directly, with Add new record – for example for a volume rebate for the past period.
Always with the External document of the vendor's credit note.
Form
The Payments tab shows the money the vendor pays back on the credit memo. The other tabs: Document list and form.
Statuses
| Status | Meaning |
|---|---|
| Draft, In progress, Pending Approval, Approved | A direct credit memo before processing. |
| Processed | The payable is reduced, the goods aren't returned yet. |
| Processed(Waiting for shipping) | The return receipt is waiting. |
| Closed | Processed and the goods returned, or a credit memo without goods. |
| Posted | Posted to the general ledger. |
| Canceled, Reversed | Not valid. |
Next status and Next progress
A direct credit memo is approved, then with Next progress:
| Action | What it does |
|---|---|
| Process credit memo | The payable to the vendor is reduced. |
| Process credit memo + Make a receipt shipment | The goods go back too: Purchase return receipt. |
| Process credit memo + Make a return receipt(Wait for shipping) | The return receipt waits for the goods to leave. |
| Make a return receipt, Make a return receipt(Wait for shipping) | A return receipt for a processed credit memo. |
Actions and Finance
- Actions: Transfer to location, Transfer from location, Clone and Reverse purchase credit memo.
- Finance: Payments and the ledgers – account, VAT, product, service, voucher, deposit and virtual item.