Credit Memos are used to negate an invoiced amount. Credits are usually issued by the vendor and should be entered into Acquisitions after the original invoice has been finalized.
- Go to Acquisitions => Create Invoice
- Fill out the invoice header.
- Click Add Charge to add a line to the invoice.
- Click on the Charge Type dropdown and select Credit Memo.
- Select the fund that will be credited from the dropdown menu.
- Enter a Title/Description to describe what the credit is for.
- In the Billed column, enter the amount of the credit as a negative amount.
- In the Paid column enter the amount that you paid as a negative amount.
- The Billed and Paid amounts should be the same.
- When you enter a negative amount in the Billed and Paid columns, the Save & Clear and Prorate buttons are greyed out and the Total amounts turn red.
- Click Close to finalize the invoice or Save if you need to finish the invoice later.
If you were to look at the fund details you would see the negative amount in red.
