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If an invoice is posted for an incorrect amount or to the wrong vendor, a Credit Memo will need to be created for the incorrectly posted invoice, and then the invoice should be re-entered properly. The following steps should be taken from the New Invoices option if the automated Credit Memos function cannot be used:

 

1.Vendor: Enter the Vendor Number.

 

2.Invoice: Enter the original invoice number with a CM (Credit Memo) preceding the number.

 

3.Trans Date: The system will default ot the current date but this date can be over-keyed. If the original Transaction Date is still open in both Accounts Payable and General Ledger applications, the original date may be used. If the original date is closed, an open date will have to be used.

 

4.PO: Enter the PO (Purchase Order) number, if applicable.

 

5.Invoice Date: Enter the Invoice Date.

 

6.Due Date: Enter the Due Date using the same date as when it was entered incorrectly.

 

7.Pay Code: Enter a Pay Code of P.

 

8.Amount: Enter the original Invoice Amount as a negative amount (precede the amount with a minus sign).

 

9.Discount: Enter the same Cash Discount, if applicable. This amount must be preceded by a minus sign.

 

10. GL Memo: This field will default with the Vendor Name but can be overkeyed.

 

11. Expense Distribution: Enter the same expense distribution General Ledger account(s) as when the invoice was entered incorrectly. Be sure to precede the dollar amount(s) of the distribution with a minus sign.

 

12. Select Update.

 

13. Select Existing Invoices from the Accounts Payable Main Menu.

 

14. Vendor: Enter the Vendor Number.

 

15. Invoice: Enter the original Invoice Number.

 

16. Pay Code: Change the Pay Code to a P.

 

17. Check / Dt / Bank: Enter CREDIT in the Check field, enter the date in the Date field and CM (Credit Memo) in the Bank field.

 

18. Select Update.

 

19. Select New Invoices from the Accounts Payable Main Menu. Enter a new invoice with the correct information. Be sure to use positive dollar amounts. If the invoice is to the same vendor, the invoice number, because it has already been used for this vendor, will have to be slightly different. A possible solution is to add an extension to the original number, such as “-A”, “-1”, or “/1”.

 

20. Print the Transaction Edit List and move it to permanent files.

 

21. Select Existing Invoices from the Accounts Payable Main Menu and enter the Vendor Number and the Credit Memo Invoice Number. Update the Check / Dt / Bank fields to match what was entered on the original invoice (step 17).