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When Should I Use a Credit Memo?

Use a Credit Memo to credit a dollar amount to a customer, including credits for tax, damaged goods, delivery issues, missing items, and Credit & Rebill adjustments.

Credit Memos

A Credit Memo should be used to credit a dollar amount to the customer.

Credit Memo Link

Some Reasons to Do a Credit Memo Are:

  • Issue a credit and rebill for tax charged to a tax exempt customer.
  • Issue a credit for damaged goods that the customer is not required to return, such as broken glassware or broken china.
  • Issue a credit when an order is delivered to the wrong customer.
  • Issue a credit when an item was not received but was listed on the invoice.

A Credit Memo DOES effect Inventory when product is involved.

  

Credit & Rebill

Credit Memos are also used for a Credit & Rebill. These are typically done when the net price or cost of a product needs to be changed.

  

IT MUST BE NOTED IN THE BOX AT THE BOTTOM OF THE PAGE WHEN IT IS TO BE CREDITED AND REBILLED.