Payables & Cash Management

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    Beth Bleijie
    Apply Credit Memo to an Invoice in Payables
    Topic posted November 29, 2018 by Beth BleijieBronze Trophy: 5,000+ Points, last edited January 30, 2019, tagged Financials, Payables 
    1123 Views, 5 Comments
    Title:
    Apply Credit Memo to an Invoice in Payables
    Summary:
    How do I apply a credit memo to an invoice in payables?
    Content:

    I have an invoice in Payables and a credit memo which fully offset each other. . .no balance to pay.

    Can I, and how do I offset them to get them off the AP Aging?

    Comment

     

    • Becky Alvarez

      When you submit a payment process request, you enable the Apply credits up to zero amount payment option. Enabling the option causes the payment process to apply credits when the credits reduce the payment amount less than zero.

      For more information please refer to the AP User Guide, Applying Credits up to Zero Amount Payments.

      • Beth Bleijie

        Thank you, Becky.

        I'll have AP try this on their next check-run.

        The document does only mention what happens if credits are less than invoices, or credits are more than invoices, but I presume the process follows the "credits are more than invoices" scenario if they are exactly equal?

        Beth

    • Becky Alvarez

      Correct.

    • Sivaraj Shanmugham

      Hi Beth

      The Bank account should be setup to allow zero payments. I would suggest running a separate zero payment PPR and clear out the zero payments to avoid the risk of sending the zero payment to your bank, if the Supplier is setup for electronic payment type. 

      Thanks, Siva