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