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Applying Credit taken by Customer to Credit Memo

Posted on by 5

I have a Credit Memo for a Client and they took the Credit but also Paid the New Invoice. How do I apply the Credit that was taken by the Client to the Credit Memo Invoice?

  • Suggested answer
    CFROTON Profile Picture
    CFROTON 4,710 on at
    RE: Applying Credit taken by Customer to Credit Memo

    Hello Rebekah,

    I did ask a financial agent and this is the reply, I hope this helps!

    I’m not sure what they mean by ‘took the credit’.   It sounds like they paid the entire invoice.  As an example, there is a 500.00 invoice and a 100.00 credit memo, and the customer sent a check for 500.00.  What they should have done is send a check for 400.00.

    In that example, the 500.00 check is applied to the 500.00 invoice, and the 100.00 credit memo is sitting there unapplied.  You can’t apply it to the invoice because the invoice has a zero balance.  If this is a customer that they do business with on an ongoing basis, I would just leave the credit memo unapplied.  They can apply it to a future invoice.  If they need to return the money to the customer, they can enter an Debit Memo, and apply the Credit Memo to the Debit memo.  AR doesn’t have a check writing capability though, so they would need to set the customer up as a vendor and enter an AC for the vendor in order to cut a ‘reimbursement’ check for the customer.

    Best Regards,

    Jana MacDonald

    MSDSL support

  • Suggested answer
    CFROTON Profile Picture
    CFROTON 4,710 on at
    RE: Applying Credit taken by Customer to Credit Memo

    Hello Rebekah,

    I believe I would have to consult with a financial engineer. Although I think you would have to create a debit memo to close out that credit memo for the customer.

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