Peachtree- Credit Memo

Credit Memo

Credit memo is used to record the returns from the customers whether on the direct sales or on the existing invoices whose payment is not received.

The procedure of credit memo is given below.

Step no1. Go to the task bar menu and click on the credit memo.

The following window will appear.

Step no 2. First thing is to enter the “Customer ID” in customer ID field. It is the ID of the customer who has returned goods.

Step no 3. Enter the date of returning goods in “Date” field.

Step no 4. Enter the reference number in “Credit no” field. This field is used to give a unique or different code to each transaction for identification.

Step no 5. Customer purchase order number is entered in the “Customer Po” field.

Step no 6. The “Term” field will be filled automatically when you select the customer. These terms are payment terms and created when customer account are created in maintain menu.

When you will enter the customer’s ID, if there is any invoices pending issued to that customer than the below given tab “Apply to invoices no” will also be enabled. Otherwise only the tab “Apply to sales” remain enabled.

Step no 7. Select the invoice number from drop down list on the Apply to invoice no tab to which you want to charge the returns.

Step no 8. The “Item field, Quantity field, Unit price field, and Description field” will be automatically filled.

Step no 9. Enter the number of items that returned in the “Returned” field.

Step no 10. “Amount field” will be automatically filled.

Step no 11. Click the “Save” button to save the transaction.