Creating a Credit Memo
Navigate to the CRM module using the pane on the left.
Click Credit Memos at the top.
Select Add New in the top right.
When creating a credit memo to offset the balance of an invoice with a deferred schedule, the user must turn off the deferred schedule in the invoice.
Similarly to building an invoice, you will be greeted with the credit memo building screen with the fields labeled in the table below.
Field | Function |
Messages | Ability to message customers from the credit memo itself. |
Give Refund | The memo will be processed as a refund via check only. Only active after hitting Save. Do not select if you are refunding cash or credit card. |
Apply Invoice | Applies this credit memo to any open invoices on the customer's account. Only active after hitting Save. |
Settlements | Views the invoices the memo is currently applied to. |
Customer Name | Credit will be assigned to the customer in this field. |
Date | Date of memo. |
Payment Term | Payment term. |
Reference | Reference for the user. |
Adding Line Items
After selecting Add New towards the right side of the page, you will enter the name of the product making sure the quantity, price, etc. are correct. Repeat for any other items.
Applying the Memo
Once you click Save you will be greeted with multiple options to apply or leave the credit for later use.
After clicking Save:
Retain as available credit — Keeps the credit memo in an Unsettled status to be used later.
Give a Refund — The memo will be processed as a refund by check.
Apply to Invoice — Applies this credit memo to any open invoices on the customer's account.
Credit memos are outlet-dependent. A memo created in TRS can only be applied to TRS invoices.
Applying the Memo to a Closed Invoice
Use this workflow when you need to void an invoice that is in a closed accounting period. See also CRM - Voiding an Invoice.
Open the invoice that needs to be voided and note the line items and amounts.
Using the menu ribbon at the top, select Credit Memos.
In the top right corner select Add New.
Enter the customer's name, date, and payment term. Add a reference noting the invoice you are offsetting.
Select New Item and add the same item(s) that were on the invoice. Repeat for any other line items.
Update the price of each line item to match the original invoice amounts.
Click Save.
When prompted, click Apply to Invoice.
A pop-in will appear — check the box to the left of the invoice you are offsetting.
Click Apply in the bottom right.
It may help to have the original invoice open in another tab for reference while creating the credit memo.