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Credit memo issue

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Posted on by Loveleen

We have a credit memo in our payables system that we have received the funds for electronically. How are we suppose to process so it clears both the AP system and the Bank Reconciliation system?

I have been unable to get the manual check system to process the item as it insists it’s a payment not a credit memo.

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Microsoft Dynamics GP

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Jeff Grant on at

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Hi Loveleen,

The quickest route would likely being voiding out the CR(s) and then re-entering it as a manual payment using the Cash account associated with the Checkbook in question so it updates PM/BR and can be applied to past/future invoices at your discretion.

Best Regards,

Jeff

Dynamics GP Support

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Loveleen on at

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Hi Jeff,

The customer said:

That is not an appealing option. Can I make an entry while balancing the check book that will post to the payables module?

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Suggested answer

Lisa at AonC.com 937 Super User 2025 Season 2 on at

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Assuming you have not yet recorded the bank transaction and the vendor still has a negative balance, how about the following:

Record the bank transaction however you are going to deposit the check into your bank account. Note the GL offset account and date you use for the CR.

Next, enter a payables voucher for the amount of the bank transaction. Use the same GL offset account and date as the bank transaction.

Finally, apply the newly posted voucher to the vendor’s credit at Transactions > Purchasing > Apply Payables Documents (using the same apply date as the transactions above).

Side Note: I recently recommended the process above to one of our clients but they preferred to go with a blog post they found online titled "Recording Vendor Refunds". This was a really interesting technique but it caused an Unmatched transaction in the Reconcile To GL workbook they rely on for part of their month-end.

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