Solved

Credit Memo - Creating an Issue

  • 2 November 2023
  • 7 replies
  • 89 views
G
Rank
Userlevel 3
Badge

Hey everyone, 

I’m wondering if this inventory behavior is normal or should be defined differently. This particular Credit Memo created an Issue and this is what it looks like on the GL. I just want to know if this is normal behavior or if maybe we missed some sort of inventory preference configuration?

GL Transaction
Issue

 

icon

Best answer by gusl 14 December 2023, 16:46

View original

7 replies

Kandy Beatty
Rank
Userlevel 7
Badge +16

HI @gusl 

The system will create an issue when a credit memo is started from the Sales Order Invoices. That is with no sales order and just the Invoice created. This is normal behavior. 

 

Kandy ~ If a member helped you, please *Like* their post, and if a member provided an answer to your question, please mark it as *Best Answer*.
Laura02
Rank
Badge +18

Hello,

I think it is not normal for any inventory batch to produce BOTH a debit and credit to the Inventory Asset Account.  Because the Issue has both debited and credited 10300 Inventory Asset account, the result will be IN Valuation report that does not equal the IN Control accounts in the GL (causes reconciliation discrepancy). 

Look at the Reason code to see the accounts it is posting to.  Look at the GL Accounts tab of the item, to see what accounts it is posting to.  Posting account may also come from Posting Class of Item, from the Order Type…. take a look at these configurations too. One of your posting configurations needs to be adjusted to avoid posting errors in future credit memos.

Then, use GL to adjust account 10300 and COGS, to correct GL for the transaction shown in your original post.

 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
G
Rank
Userlevel 3
Badge

@kandybeatty49 @Laura02 
I believe this to be a one off where an order came into acumatica from Shopify. Then, the order was canceled (never shipped). 2 refunds then came in. 1 Return Order was created. 1 Credit Memo was created. It seems like an order that has not shipped shouldn’t have a credit memo, right? I would think that the refunds would be sufficient in this case because the order had not shipped. I’m very confused but I’m going to look at the settings to see if I missed something. 

Laura02
Rank
Badge +18

Hello,

I agree, orders that have not shipped should not yet have either an Invoice or a Credit Memo.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
Chris Hackett
Rank
Userlevel 7
Badge

Hi @gusl were you able to find a solution? Thank you!

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.
G
Rank
Userlevel 3
Badge

@Chris Hackett 
I found some solid information on inventory issues based on a credit memo on one of the helpdesk articles. 

https://help.acumatica.com/(W(2))/Help?ScreenId=ShowWiki&pageid=f4a1ab85-a163-4207-8349-f7534dbc362a

Chris Hackett
Rank
Userlevel 7
Badge

Thank you for sharing your solution with the community @gusl!

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.

Reply


Terms & ConditionsCookie settings
About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved