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Reportwhat are the purposes of using credit memo in payable transaction entry ?
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what are the purposes of using credit memo in payable transaction entry ?
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Hello Ahmad:
In GP PM, a credit memo is a document type to recognize a credit to the balance owed to a specific vendor.
If a given vendor is owed $1000.00 on an invoice, adding a credit memo of $25 for this same vendor will reduce the amount owed to this vendor by $25.
So this will result in a payables check of $975.00 to the vendor.
Hope this helps.
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André Arnaud de Cal...
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