Review a credit memo
Review a credit memo before applying it or relying on its accounting impact to confirm that the customer, source transaction, date, items, quantities, rates, tax, totals, and supporting information are accurate. This article describes checks that can be performed during preparation, approval, and reconciliation without prescribing a company-specific approval process.
One of the most common causes of discrepancies is human errors, which may include data entry mistakes, typos, and missing information. To help reduce these errors, QuickStart lets you create a credit memo with prefilled details from the return authorization. This way, you don’t need to manually enter data, such as customer details. For more information, see Create a credit memo.
To check the accuracy of your transactions, you can establish quality checks at different stages of the process. Consider the following methods:
- If you create credit memos, review the details carefully before submitting the transaction. Look out for common data entry errors, such as typos. Be sure to fill out all the required fields in the form.
- You can send a preview of the credit memo to your customer for review. For more information, see Print a credit memo.
- Analyze accounting reports carefully to track possible discrepancies. For more information, see Get started with accounting reports.
If you see any discrepancies, contact the person responsible for fixing the error, such as the creator or approver. If you need to make the necessary corrections, edit the transaction before proceeding to the next step. For more information, see Edit a credit memo.