Sage 100 – How to apply a Credit Memo in Accounts Payable
From time to time, you may receive a credit memo from a vendor and want to apply it to a specific invoice. To apply credit balances use the Manual Check Entry Program.
- On the Accounts Payable Main menu, click Manual Check and Payment Entry.
- At the Bank Code field, enter the bank code. (NOTE: You must enter a bank code at this field; however, the bank code does not affect the entry.)
- At the Check No. field, type APP. The Check Amount field will be zero and cannot be changed.
- On the Header tab, at the Vendor No. field, select the vendor number of the credit memo that you are applying. You may enter a comment reference.
- On the Lines tab, at the Invoice No. field, select the credit memo to be applied and click OK. The credit invoice information appears.
- Select the Invoice to apply the Credit Memo to. At the Invoice Amount field, change the invoice amount to reflect the positive amount of the credit memo, if necessary.
- Click OK. The check distribution amount should be zero. Click Accept.
- Print and update the Manual Check Register and Daily Transaction Register.
- The credit balance is applied. Print and update the Manual Check Register and Daily Transaction Register. Note: There will be no posting to the General Ledger. You can verify the credit application is Vendor Maintenance, Invoices Tab #6.