4/3/2024 0 Comments Ar credit memoRepeat these steps for all line items that require an adjustment. Enter the data according to the following adjustment situations in the Product, Quantity, and Unit Price fields.Make sure to capitalize any letters when you enter the code, for example, R12. Enter the invoice or reference number in the Invoice # field, or click Find to look up the invoice or reference number.Enter the customer Id, or click the lookup icon to select a value.From AR/Cash, select Enter and edit transactions > Credit memos to open the Enter and edit credit memos window (or select Enter and edit transactions > Debit memos to open the Enter and edit debit memos window).Locate the invoice number or reference you need in the Ref.If you double-click a record, the Transaction Ledger window displays, showing detailed information. Select the AR/Cash tab to view the AR/Cash information.Click Find and enter the customer ID in the Search window, then press Enter.From Customers, select Manage customers to open the Manage customers window. If you do not know the invoice number or reference: To adjust an existing open item, first enter the item's invoice number or reference in the Invoice # field on the Enter and edit credit memos or Enter and edit debit memos window. You can now reference the item (in this example, BADDEBT) on the Enter and edit credit memos window and properly track this expense account. If the Allow GL Account Edit for Sales Transactions option is not enabled (from AR/Cash, select Set up module), the GL Account field is display-only and the GL account number cannot be added or changed. (optional) Place the cursor in the GL Account field and enter or change the GL account number for the bad debt write-off.Leave the Regular Price and Non-Member Price at zero so that you can enter variable balances.If desired, enter a short description in the Des.Bad Debt Expense is used in this example. From AR/Cash, select Set up tables > Products to open the Set up products window. In order to write off a bad debt, you must first set up a product that corresponds to the bad debt expense on the Set up products window. IMIS allows you to write off a bad debt, an uncollectible item you do not expect to see fulfilled. Note: Although credit memo transactions create accounting entries that are used to reduce or reverse an open debit item, these transactions do not produce any documents other than normal transaction entries on batch and other transaction-related audit trail reports. Reverse a previously entered sales (or simple order) transaction.Use credit memos to perform the following operations: Credit memos make adjustments that reduce or reverse normal open AR items.
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