Credit Memo against Invoice in r12 Receivables

Case study for AR Credit Memo against Invoice

1. Navigate to Transaction window

(N) Receivables > Transaction > Transaction

2. Enter the invoice mandatory fields

Field Name	Value
Sources	Manual
Class	Invoice
Type	Invoice
Ship to	Business World (real time customer name)

3. Click Lines (B)

4. We have to select line item, Quantity and price details

5. click on save (B)

7. Optionally we can also check the account details by clicking “distribution”

8. Click on “Complete” (B) to complete your transaction

9. Now we can see the completed check box has been checked.

10. We can also check the printed invoice by clicking print button

11. Check the outstanding balance In below screen

12. Create accounting by navigating tools > Create accounting field

13. Select your option of accounting and click OK

14. View accounting by navigating Tools > View Accounting

15. We can see the accounting entries created by the Transaction

Create credit memo for this invoice and make the balance NIL amount.

16. Navigate to the “Action” button and click “Credit” Button

17. Invoice number selected to raise the Credit memo

18. Ensure that Type is selected for “Credit Memo” else select it

19. Click on the “Credit Balance” button to raise fully credit

20. You will get the conformation message like below, click ok

21. Now we can see that credit amount fully applied to that invoice number 12024

22. Balance got “Zero”

23. Click save (B)

24. Click “Complete” (B)

25. Now credit memo applied and completed.

26. Do the Create the accounting in Tools > create accounting

27. Select how you want to create accounting and click ok like draft or final

28. click OK (B)

29. view accounting from Tools > View Accounting

30. In this screen the accounts get reversed

31. Query the Invoice using invoice number

32. Enter the invoice number and click find button

33. Click the “Details” Button to view the complete balance details

34. Check below screen the balance has been get cleared

35. we can also check in transaction print showing null balance in the end outstanding