Sunday, July 14, 2019

Reverse Unapplied Credit Memo in a Closed Period

Here are the Steps to be taken:

1. On your Credit Memo page > More Actions > GL Impact.
--Take note of the Accounts that will be used in the Reversal of Journal Entries.
2. Navigate to Transactions> Financial> Make Journal Entries.
--List the Accounts (If it is debited in the Credit Memo, credit it in the Journal Entry).
--Be sure to add the Name of the Customer in your Accounts Receivable type of Account
3. Navigate to Transactions> Customer> Accept Customer Payment.
--Select the Customer and the correct A/R Account.
--On the Apply tab> Locate and check the Journal Entry and the Credit Memo.
--Unapplied Amount should be 0.

You may verify this on Reports> Customer/Receivables> A/R Aging.

There is a pending Enhancement in creating a Debit Memo to Reverse Credit Memo - Enhancement 48386.

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