How do I enter a credit memo in Accounts Payable?

The steps to enter a credit memo are the same as entering an accounts payable invoice except the dollar amount is negative. The credit memo remains open on the vendor record in the accounts payable file until an invoice can be applied against the credit memo.  The system does not allow for negative checks.

In Keystone Client from the application menu, select Financial Information System → Invoice Entry → Accounts Payable Invoice Entry [AP0324].

Enter the vendor number or use the lookup feature by selecting the  or F8, locate the vendor and select, "OK". 

The vendor information is prepopulated from the vendor record.

Invoice Number - enter the credit memo number from the vendor document.

Invoice Date - enter the credit memo date from the vendor document.

Due Date - enter the credit memo due date from the vendor document.

Post Date - enter the date for the credit memo to post to the general ledger.  Default is today's date.

1099 Type - if the vendor receives a 1099 tax form annually, use the Lookup or F8 for a list of 1099 type codes.

Single Check - do not select this option as the system cannot print negative checks.

Check Code - enter the check code or use the Lookup or F8 for a list of check codes.  

Total Net - enter the amount of the credit memo as a negative number.

After entering the total net amount, the system prompts for a PO#.  Leave the field blank and select, ok.  The system does not allow for purchase orders to be entered as a negative amount.

To enter the line details, place the cursor in the white box next to Qty and double click. Enter the individual line details associated with the credit memo as negative amounts, select the account number and enter a description. Select, ok to return to the main record.

Once all detailed lines are completed, select OK on the Accounts Payable Invoice Entry [AP0324]. 

For additional information on how to enter and invoice, can be found on our Client Care Portal, under Documents -> User Manuals -> Financials -> Invoice Entry -> Invoice Entry. Here is a link to that document.