A Credit Memo is a document from the vendor (or your accounts payable team) to the customer that reduces the amount owed from a previous invoice and explains why the amount is reduced. This can also be called a credit note.
This article will show you, an Accounts Payable Employee, how to submit a credit memo.
Step 1: On your Certify homepage, click the Purchasing tab.
Step 2: Click Go to Purchasing.
Step 3: This is your Purchasing dashboard. Click the Invoices tab.
Step 4: In the Invoices box, click Submit Credit Memo.
Step 5: This is the Create Credit Memo page. You can search for the corresponding vendor by searching by Vendor Name or the PO (Purchase Order) Number.
Step 6: After selecting your Vendor, enter the Credit Memo Date, and the Credit Memo Number.
Step 7: Click Create.
Step 8: First, edit the Header information. If any information already entered is incorrect, click Edit to change it.
Step 9: Attach any important documents and enter optional comments here.
Step 10: Add Products to the credit memo by searching for them here.
Step 11: Click Add to add the product to the credit memo.
Step 12: The Edit Line Item screen will appear. You can change the Quantity, Price, Department, GL, and Project. When complete, click Save.
Step 13: You have three options to continue:
- Delete: Permanently deletes the credit memo.
- Close: Saves the credit memo and returns you back to the purchasing dashboard.
- Route: Routes the credit memo forward.
Step 14: You'll receive confirmation that your credit memo has been successfully routed.
Please Note: The credit memo has been routed based on the invoice approval chain. You will be notified via email when the credit memo has been approved.