Client Credit Memos
A Credit Memo is an issued document indicating that the Client Company's account has been credited with a determined amount. It is usually issued in response to various scenarios, often involving overpaid invoices or billing errors. The purpose of a Credit Memo is to rectify a billing discrepancy or acknowledge a refund owed to the Client Company.
Watch this video to learn more about credit memos!
Client Credit Memos are very similar to Client Invoices with a few minor differences:
- Client Credit Memos can't have Client Line Items that are non-negative.
- Client Credit Memos are generated from Client Invoices; You can't send a Client Invoice out that has an Invoice Total that's negative. In such cases you would need to generate a Client Credit Memo. Move a single negative line with the credit memo icon on that line, or click Move to Credit Memo at the top of an invoice whose whole total is negative. See How Do I Apply a Credit Memo?
- When a Client Credit Memo is sent to a customer, it doesn't require payment; It is a notification to the customer telling them "We owe you a credit".
Properties
- Document Number: The document number.
- Document Date: The date the document was created.
- Fiscal Date: The fiscal period the credit memo belongs to.
- Client Account: The client account associated with the document.
- Client Account Id: The ID of the client account associated with the document.
- Status: Where the memo is in its life:
- Not Sent: new memos start here. You can still add or remove line items and edit the memo.
- Sent: the memo was emailed or printed to send. Its line items are locked.
- Fully Applied: a sent memo whose whole amount has been applied to invoices. If a credit is unapplied, it goes back to Sent.
- Voided: the memo was voided. It can no longer be applied.
- Notes: Any notes about the document.
- Client Name: The client name.
- Total Amount: The total amount of the document.
- Applied Amount: The amount of the document that has been applied.
- History: The history of the document.
- Last Emailed At: The date and time the document was last emailed.
- Last Printed At: The date and time the document was last printed.
- Voided At: The date and time the document was voided.
- Void Reason: The reason entered when the credit memo was voided.
- Override Settings: Any override settings for the document.
- Line Items: The Client Line Items on the memo.
How To?
How Do I Create and Bill a Client Line Item Adjustment?
How Do I Void a Client Credit Memo
If you have additional questions or need more in depth information, please feel free to send us a message using the help beacon in the lower right-hand corner.