PART A – Entering an A/P credit in the amount applied to the customer's account

In this section, you will enter an Accounts Payable credit memo in the amount that you "paid" to the customer/vendor's Accounts Receivable balance.

Because the customer is also a vendor, you are going to create a credit memo to reduce the amount of your payment to reflect the amount applied in Accounts Receivable.

  1. On the Site Map, click Accounts Payable > Data Entry > Invoice/Credit Memo.

  2. In the Job field, enter the job number, if applicable; otherwise, press Enter to bypass this field.

  3. In the Customer code field, enter the vendor's code.

  4. In the Invoice # field, enter an invoice number.

  5. In the Type field, use the drop-down list to select Credit Memo.

  6. Press Enter to bypass the Subcontract # field.

  7. In the Invoice date field, enter the date of the invoice. This date should correspond with the date entered in the adjustment entered in Accounts Receivable.

  8. In the Amount field, enter the amount that you applied to the customer/vendor's account.

  9. In the Remarks field, enter any applicable comments about the transaction and then press Enter. The Properties window automatically displays.

  10. Review the information in the Properties window and then click OK to return to the Invoice Entry screen.

  11. Complete the Quantity, Equipment code (if applicable), Description, Um, and Unit price fields.

  12. In the G/L account field, enter a suspense or contra account code. Make a note of this G/L code.

  13. In the Amount field, press Enter to accept the default amount based on the amount you entered in the Invoice portion of the Invoice Entry screen.

  14. Complete the remaining applicable fields and then click OK until the Update button displays.

  15. Print the A/P Transaction Register.

  16. In the A/P Transaction Update screen, select Continue and then click OK until you return to the Site Map.