Entering Credit Memo
Foundry Bean Global work system uses receivables credit memo to reduce the customer balance.
Foundry Bean Receivable Credit Memo amount is always less than zero (negative amount).
Transaction class for Receivable Credit Memo is Credit Memo.
Click “Create Invoice” to create a new Credit Memo.
Primary Information
Choose the transaction class “Credit Memo”. Transaction class determine the type of transaction entered in the system. Transaction type is filtered based on transaction class.
Choose Customer for the Credit Memo . Entering customer automatically populates billing address, payment terms, payment due date etc. Payment term can be changed to “Immediate” for the credit memo to be effective immediately.
Transaction date and accounting date are automatically populated as today’s date but can be changed manually.
Currency / Amount
Invoice currency and payment currency are automatically populated from the associated ledger. User can change the currency and need to enter exchange rate to calculate the credit memo amount.
Save Credit Memo
Click “Save” to save the credit memo.
Click “Add” in Credit memo lines with amount for each line. Quantity must be less than zero .
Click “Save” to save the credit memo line.
Click “Show Invoice” to see the credit memo.
Click “Actions” in “Show Invoice” for the credit memo and click “Complete” . System automatically creates payment schedule and accounting for the credit memo.
