Clearing a Credit
To clear a credit that will not be used:
You can clear a credit or debit memo you have entered and no longer need. For example, a supplier sends you cash in lieu of sending you a credit invoice, and you have already entered a debit memo. You can enter a positive amount invoice to balance out the impact of the credit/debit memo.
1. Enter a Standard type invoice for the positive amount of the credit/debit memo. For example, if you entered a credit for -$10, enter a new invoice for $10.
Other than the invoice amount and invoice number, enter all of the same basic invoice information you entered on the credit/debit memo.
You may want to enter a cash or accounts receivable clearing account on the distribution to which you will post the cash.
3. Create a zero amount payment at payment time to net the new invoice with the credit/debit and clear both from your Invoice Aging.
CREDIT/DEBIT MEMO RESTRICTIONS:
INVOICE AMOUNT = DISTRIBUTION TOTAL. When you are in the Match to Invoice window, the Invoice Amount and the Distribution Total must be equal before you can save.
