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Need Clarification.
Can i post a sales credit Memo without having inventory affected. I just want to reduced the customer balance.
Does a sales credit memo raised with type as item on the lines and posted as an invoice ( for posting type selection), will still affect my inventory in the warehouse?
Hi,
Agreed with Alexander. When you want to credit something, you need to debit something else. Basic accounting concept.
Just reducing the customer balance will not correct your entries. You need to adjust your sales account, tax, discount accounts as well. Otherwise your accounts balances will not be correct.
As a solution, you can create a credit memo to the customer and in the line level you can select your sales account, discount accounts (if any) and then allocate the amount. (Navigate to the original invoice and check the G/L Entries to get the correct amounts you need to reverse.) Once the amounts are entered correctly you can post the credit memo.
This will not affect your inventory or inventory accounts. It will reduce the customer balance and via posting groups it will adjust the control account of the customer. From the lines it will adjust sales accounts. All good!
Let us know if you need any more clarifications.
When you post a credit-memo, you will anyway affect two accounts (as it is a principle of accounting). In the header of the credit memo you will select a customer, and this would be your receivables account that will be adjusted by your credit-memo. However to post it, you need the other side of the accounting transaction, which will come from the lines of the credit-memo. Now, in the lines you can select either items (so that items quantity and items value will be adjusted), or G/L account, so that only some G/L account will be adjusted, but not inventory.
Regarding your comment of the new system: if your customer has been invoiced in old system, this means that you had a transaction of Debit of receivables account and Credit of Revenue account. While going to new NAV system, you most likely transferred the Revenue account as well (or, if it has gone to previous periods, now it is Retained Earnings in NAV).
So, in order to reduce customer's balance at current date, you need also to select Revenue G/L account in your new NAV system.
You can create credit memo by selecting G/L Account..
The customer returned goods for which he is entitled to credit note.
The customer was invoiced in our old system before migration and the goods was also received back into that old system, therefore inventory and customer balance is updated through the take on data.
Now while using navision , i want just to give the credit to the customer in order to reduce his balance.
so what i want to achieve is just to reduce the customer balance without having inventory affected and without posting directly to receivable G/l Account.
Can you please let us know what exactly you are trying to achieve and why ? do you duplicate deposit or cash receipt entry which you want to reverse ?
Hi,
Yes you can. Raise the credit memo to the customer and in lines, select the G/L Account you need. No inventory will be effected unless you choose item.
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