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Many of our customers will have large numbers of credit memos for various reasons. When they pay their invoices they include these credit memos and reduce the actual payment amount by the total of the credit memos.
For example the remittance advice will look like this :
| credit memo 123 | (100.00) |
| credit memo 345 | (150.00) |
| credit memo 678 | (75.00) |
| invoice 901 | 300.00 |
| invoice 902 | 475.00 |
| Net Payment | 450.00 |
This is a relatively small example as there may be as many as 40 - 50 credit memos and an additional 30 - 40 invoices on each check. The invoice amount shown is the full amount without any credits applied.
We want to be able to trace the credit memo back to the customers check that the customer took the credit memo on, preferably in GP and not on a spreadsheet. This also applies to the invoice, even if tracing the invoice back to the check involves first locating the credit memo that was applied to it.
We also want to be certain that as the user is applying cash they are easily able to reconcile what they are posting to the actual check amount.
We are relatively new to GP and are not sure of the best approach. Any advice on the best way to handle this situation would be greatly appreciated.
Thanks!
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Why does everyone reference this Yudin outdated blog? Not everyone has Smartlist Builder. There is no where to put SQL in the Purchasing module. When a vendor calls you and says where did you apply my credits, we have no way of telling them. And when you have 30 or 40 that's ridiculous.
This question has come up previously in the forum, albeit in a slightly different form:
community.dynamics.com/.../37448.aspx
The request was for a SQL Query to accomplish much the same thing. SQL Queries can be used as foundations for Views, SmartList Builder, Crystal and SSRS Reports. Here's a reference to a query on Victoria Yudin's blog, which may suit your purposes.
victoriayudin.com/.../sql-view-for-payables-payment-apply-detail-in-dynamics-gp
Sorry I understood now, but there is no option to achieve this within GP. You can use apply date of credit memo same as cash receipt so that you can filter the same.
Hi Babu,
I apologize if I wasn't clear. The credit memos have already been created in GP. We are looking for the best way to apply these credit memos to invoices at the time the customer pays.
Thanks
Hi,
Have you look at the credit memos on the receivables transactions.
Sales >> Transactions >> Transaction Entry
Credit Memos
Use credit memos to record any decrease in a customer's balance that isn't the result of a payment. The difference between a credit and a return is that a credit memo credits a customer's account. A return credits a customer’s credit card balance or account with your company, and reverses tax and commission amounts that were previously entered.
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