AR Transaction & Credit Memo

AR Transaction & Credit Memo

Transaction (Invoice) & Credit Memo (Manual / Automatic)

• We will create a standard transaction
• We will create a t Credit Memo (Manual)

Steps for Credit Memo (Manual)

1. Create a standard invoice
2. Create credit memo (from Transitional Work Bench)
3. Create Receipt for credit memo
4. Check Balance for the standard invoice

Steps for Credit Memo (Automatic)

1. Create Transaction standard one
2. Create auto credit
3. Check Balance
4. Create receipt for balance amount
5. Check Balance

Now Steps for Credit Memo (Manual)

Go Accounts receivable -> Billing -> Create Transaction

Enter all the details

Then complete and Review

Invoice has been generated

Transaction Number : 121765

In the same manner create credit memo from transaction work bench

Credit Memo Transaction Number : 121766

Now go to Home > Accounts Receivable then go to Manage Credit Memo Application

Search with the credit memo

Click on “Add Open Receivables”

Then enter the original transaction invoice

Click on “Add”

Once done save and close

Then again go to the original transactional invoice 121765 -> Actions -> View Balance

Steps for Credit Memo (Automatic)

Create a Transaction from Billing -> Create transaction

Enter all the required details then Complete and Review

Transaction Number : 121768

Now create the credit transaction

Here enter the details and apply the credit memo to the Transaction

Transaction Number 121769

Now we will got the Manage Transactions from Billing, and view the balance for original transaction

Now create a receipt for the transaction

Apply the transaction number to this receipt from the Actions-> Submit and Apply Manually

Then save and close

Once completed go to the Billing section ->inquire for the original transaction number and View the balance from Actions -> View balance