Lockbox - How to apply credit memos?

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Posted on by Ken Cada

Customers often take credit memos when they pay our client's outstanding invoices. The bank provides a daily lockbox file that shows credit memos as negative amounts. The GP Lockbox module does not allow negative amounts.

If the payment processing was done manually, the credit memo would be applied in applied documents before the payment is processed. Only then would the payment be processed with the credit usually applied to the first invoice on the check stub.

Ideally with lockbox, you would like not only the paid invoices applied automatically but also the credit memos. How do other users of GP automate the application of credit memos in Lockbox processing?

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