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Credit Memo Screen - How To's

Author: support 4 Reference Number: AA-02814 Created: 2021-08-31 15:25 Last Updated: 2022-06-29 20:43 0 Rating/ Voters

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Overview of the Credit Memo Screen

'Credit Memo screen' is a comprehensive screen that stores and displays every significant information about a Credit Memo transaction all on one screen.  It is divided into four (4) main sections to organize data and functions:

  • Main Fields (section) 
    • Bill To - The entity who will pay for the order.
    • Ship To - The entity who will receive the order.
    • Credit Memo # - Record numbering type can be set at Settings>System>Record Numbering as manual, sequential or date format.
    • Invoice #  - The Invoice number related to the  Credit Memo.
    • Status - Credit Memo status is displayed here. The settings can be set at Settings>Sales>Invoices/Credit Memo(s).
    • Return to Warehouse - Indicates which Warehouse the item will be returned.
    • To Sync (QBO) - (checkbox) gets checked automatically each time a new Credit Memo is created in 1place then syncs with QuickBooks Online (QBO) when the record is saved.
    • Resync Flag - (checkbox) gets checked when a Credit Memo is changed in 1place then syncs with QBO.
    • Last Synced - Date & time last synced with QuickBooks Online
    • Credit Memo Date - The date when the Credit Memo was first created.
    • Entered By - Creator of the Credit Memo.
    • Customer PO # - The Purchase Order # on the Customer's purchase document. (Optional) For document tracking purposes.
    • Payment Terms - Payment terms and conditions you set as the seller. Pre-define your Payment Terms settings according to your company set conditions. Go to Settings>Sales>General Sales Settings>Payment terms (section).
    • Sales Rep - The Sales Representative who communicated or closed the sale.
    • Order Source - Where an order originated from.
    • Shipped Via - The shipping method.
    • Email -  Customer's email address.
    • Job ID - The Job record related to the Credit Memo.
  • Add/Edit Line Item (section)
    • Audit Log  icon - Lets you view all updates (and details) made on this section.
    • Gear  icon - Click to view all Column Filters on this section. You may check/uncheck to show/hide these fields.
    • Double Arrow Down  icon - Click to show Line 2 fields.
    • Double Arrow Up  icon - Click to hide Line 2 fields.
    • Add/Edit Line Item (table)

Line 1 (Column Filters/Fields)Description
To ReturnThe quantity (of the item) to be returned (due to defect, incomplete parts etc).
ReturnedThe quantity (of the item) returned by the Customer.
Item # The unique item code.
DescriptionSpecified item description which includes the Year, Make, Model and item category.
ReasonReason for item return.
List PriceThe basic price of an item in your catalog. Also known as the Suggested Retail Price or the standard price.
Unit Price The 'deal price' for a specific item.
Disc % (Discount) The discount % applied to the item that is reflected on the Invoice.
Net Price The final Price offer of an item (after any markups or discounts).
Line Total The total Price computation (before taxes) of each Line item on the Invoice. 
Date Shipped 
Transfer From WH 
Shipped From WH 
Comments(Optional) Any specific notes for a particular Credit Memo line item.
VendorName of Supplier or Vendor.
Serial #The unique code or part identifier of a specific item.
Invoice CM # The Invoice related to the particular Credit Memo, if any.
Cost 
RMA Return Merchandise Authorization
Bill ID 
BinThis is an alpha-numeric field used by the Stock Picking Tickets to arrange the order that items are to be picked off the shelf by Picking Order, then Location, then Bin.
Lot/Serial #    

  • Tabs (section) - see below.
  • Footer (section)
    • New (button) - To create a new Credit Memo record.
    • Delete (button) - To delete that Credit Memo. 
    • Refresh (button)
    • Receive / Edit Payment(s) (button)
    • Create Credit Memo (button)
    • Send Email (button)
    • Print (button)
    • Save  (button) - To save the actions/changes made on that screen.
    • Help  (button) - Leads you to self-help articles about the Credit Memo screen.
    • Close  (button) - To close that screen.

Credit Memo Screen- Common Tasks

How to Add a New Credit Memo Record

  • Shortcut Key: Ctrl + F8, or
  • On the Quick Start Menu, click the + icon and select Invoices & Credits, or
  • Click the New  button on the lower left part of the Invoices & Credits List screen, or 
  • Click the New button on the lower left part of any Invoices & Credits screen.

How to Create a Credit Memo

  • Scenario 1: Customer returns an item(s)
  1. Open the related invoice;
  2. Enter the quantity that you want to return in the 'Qty Rtn' field. (Note: If the 'Qty Rtn' field is not visible, click on the Gear  icon and check the 'Qty Rtn' field to make it visible);
  3. Click 'Commit Line Item';
  4. If you want to sync the changes in Quickbooks Online, unclick and click 'To Sync' check box located at the upper right side of the screen. Make sure that both 'To Sync' and 'Resync Flag' check box were checked;
  5. Click 'Save'. Once clicked a 'Syncing Invoice with Quickbooks Online' pop ups;
  6. Click 'Create Credit Memo';
  7. When prompted to return all items on the Invoice: 
    • Click 'No' if only a number of items are returned. Then when promoted to return any items where the QtyRtn>0, click 'Yes'.
    • Click 'Yes' if all items in the invoice are returned.
  8. A Credit Memo screen will now be opened in a new window tab. Check for the following:
    • To automatically sync the transaction in Quickbooks Online make sure that both 'To Sync' and 'Resync Flag' check box were checked;
    • The value/ quantity in the 'To return' and 'Returned' field;
    • Select the reason of the return from the drop down list in the 'Reason' field. Click 'Commit Line Item'.
  9. Click 'Save'. Once clicked a 'Syncing Credit memo with Quickbooks Online' pops up;
  10. Click 'Close'.
  • Scenario 2: If you wish to give your customer a store credit:
  1. On the Quick Start Menu, click the + icon and Select 'Invoice & Credit' or you can press CTRL F8 for the shortcut key;
  2. In the Credit Memo screen, fill in the necessary information in the following fields:
    • 'Bill To';
    • 'Description';
    • 'Unit Price' and 'Net Price' for the amount.
  3. Click 'Commit Line Item';
  4. Make sure that the 'To Sync' and 'Resync Flag' check box are checked;
  5. Click 'Save'.

How to Apply a Credit Memo to an Invoice

  1. Open the Invoice where you want to apply the credit memo;
  2. Click 'Receive/Edit Payment(s)';
  3. In the 'Payments' screen click 'Show/Apply Credit';
  4. An 'Apply Credits' screen will appear;
  5. In the 'Sales Number' field choose the credit memo number you want to apply. Click on the arrow under the 'Credit Amount' field. This will automatically forward the values from the 'Credit Amount' field to 'Amount to Apply' field. But you can also enter (in the Amount to Apply' field) an amount lesser than the amount of the credit memo you want to apply;
  6. Click 'Apply Credit';
  7. At the bottom part of the 'Payment' screen, choose a GL Account from the drop down list in the 'GL Acct' field;
  8. Check the 'To Sync' check box;
  9. Click 'Close';
  10. In the Invoice screen, unclicked and click the 'To Sync'. Make sure that both 'To Sync' and 'Resync Flag' check box were checked;
  11. Notice that the 'Amount Received' field is now filled in with amount of the credit memo applied;
  12. Click 'Save'. Once clicked a 'Syncing Invoice with Quickbooks Online' pops up;
  13. Once synced, clicked 'Close'.

  • Using Shortcut Key: F8, or
  • On the Quick Start Menu, click the Search (magnifying glass) icon then select Credit Memos, or
  • (If already on the Invoices & Credits List screen) use the Search feature (magnifying glass icon) to type the Credit Memo number or any information/keywords to filter multi search.

How to Find Various Lists of Credit Memos

    • Shortcut Key: Shift+F8, or
    • On the Quick Start Menu, click the List button and select Credit Memos, or
    • On the Main Menu Bar, click Sales > Invoices & Credits. (Note: Click the Type field to separate the Credit Memos from the Invoices)

    How to Delete Credit Memo Record(s)

    • On the Invoices & Credits List screen, check the box/es (first column on the left) to select one or more records then click Batch Actions button and select Delete Selected, or
    • Click the first box (topmost, on the fields row) to either select all records on a page or all records on the entire list then proceed with deletion, or
    • On the Credit Memo screen, click Delete button (lower left part of the screen).
    • Note: To preserve the integrity of the database, you cannot delete any Credit Memo record that  has been used on any of the screens such as Sales Orders. Credit Memo, associated Purchase Orders, etc.

    Add/Edit Credit Memo Line Item Table Limitations

    • Consider below pointers:
      • You cannot add Line items on the Credit Memo screen.
      • Invoice Line Item/s cannot be edited except for the following fields:
        • Description
        • Prices 
        • Discount
        • Qty Return
    • If opting to delete an Invoice Line item, delete first the related line item on the Sales Order screen.

    Sales Invoice/Credit Memo Records and Reports

    How to Create & Generate Sales Invoice/Credit Memo Report(s)

    • On the Main Menu bar, click on Reports > Invoices/Credits.
    • Define your Report.
      • 1place allows you to generate different types of Invoices/Credits Reports according to your needs. Pick from the type of Invoices/Credits Report (i.e. Invoices/Credits By Customer, Invoices/Credits By Date, Invoices/Credits By Product, etc.) from the Reports section.
        •  Note: You can adjust the period covered by your report. On the Report Period filter section, select from the drop down filter lists or manually input the dates 'from' and 'to'.
    • Click on Run Report.
      • Note1: There is an option to further customize your Report by clicking the Gear (gray) icon to make the Report Lists Settings popup screen appear. Check or uncheck box(es) of the column(s) that you prefer to show/hide. 
      • Note2: At this point, you may choose to Print, Email or Download your Report copy. 

    How To Create & Save Invoice/Credit Memo Reports (as a Report Template)

    • After doing the instructions above, click on the Customize (blue) button to further modify and save your newly created Report.
    • On the Customize Report popup screen:
      • (Optional) Select the Min Access Level from the drop down icon.
      • (Required) Type in the Report Name (whatever you want to call your Report).
      • (Optional) Type in any Report Description. 
      • (Optional) Check the box if you want to Make Report Private and/or Favorite. Check or uncheck box(es) of the column(s) that you prefer to show/hide. 
      • Click on Save. 
      • Note1: This Report will appear on the list of Custom Reports and on My Favorites if you checked the Favorite box.
      • Note2: You can always edit or update any Custom Reports. Go to Reports > Custom Reports and click on the Pencil icon (under Actions column). Do the necessary changes and click on Update.
      • Note3: Click on the X button to permanently delete any Custom Report from the list.
    • Note: You have the option to Email, Print or Download a Report copy (see instructions below).

    How to Print, Email, and Download Invoice/Credit Memo Report(s) & Record(s)

    • On the Invoice List screen:
      • Select the record(s) by checking the box(es) .
      • Click the  button to Print and  to download (in Excel form).
      • There is also an option to Share  record(s) and this feature will be available in the future.
    • For Invoice/Credit Memo Reports, go to Main Menu Bar > Reports > Invoices/Credit Memos, create your Report (*see previous instructions) then click on the  button (upper right). 
    • The Print Preview popup screen will appear. 
      • DOWNLOAD COPY: Click on  button (upper right) to download the Report. Save in your PC.
      • EMAIL COPY: Click on  button (lower right) to send a copy of the Report through email. Create the body of the Email and input other necessary details on the left side of the Email popup screen. Click on  button (lower right).
      • PRINT COPY: Click on  button (upper right) to print the Report. Adjust Print Settings then click on  button (lower right).

    Comments (tab)

    Input any comments or notes related to the particular Credit Memo.

    Payment Info (tab)

    Article coming soon.

    Other Info (tab)

    This tab contains other important information about the Credit Memo such as:

    • Created By
    • Created Date/Time
    • Originally Created In

    Other (tab)

    Article coming soon.

    Credit Memo - Additional Tasks



    Refunding Credit Memo on QuickBooks

    1. Go to '+ New' button, under Vendors Column, click on 'Check'

    2. On the 'Check #To print' screen. Enter the following:

    • On the 'Category details' section, choose 'Accounts Receivable'
    • On the 'Amount' section, enter the Credit Memo amount;
    • On the 'Customer' section, enter the Customer's Name.
    • Click 'Save and close'.

    3. After creating the check, apply the related Credit Memo. Click '+ New' button, under the Customer column, choose 'Receive payment'

    4. On the 'Receive Payment' screen, 

    • On the Customer field, enter the customer's name
    • In the 'Outstanding Transaction' section, select the check created
    • In the 'Credit' section, select the Credit Memo for refund.
    • Click 'Save and close'.
    NOTE: Ensure that the 'Amount Received' located at the top right corner is zero.
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