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How to correctly reverse a Credit Memo

  • 12 October 2023
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I need to correctly know how to reverse a credit memo, the should not have been entered into the system

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Best answer by Laura02 12 October 2023, 21:27

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Hello @tdunewood !

To my knowledge, you should be able to reverse a Credit Memo by navigating to it, clicking on the three dots next to it, and selecting Refund, then Release. I’ll use this credit memo (AR012035) for my customer CRABTREE where I gave them a credit of $100 as an example below:

However, this will increase the customer’s balance if the refund is applied as the Credit Memo type. You may need to correct the refund by voiding it. You should notice a new Refund type record under Payments and Applications:

Go ahead and open up the Refund, click Void, then Release. You should notice the credited amount now negative:

I’ll include links to our Refunds and Void Refunds documentation pages for further research here:

Refunds: General Information

Refunds: To Void a Refund

 

I hope this helped! Thanks,

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Hello @tdunewood ,

You may be able to simply Reverse and Apply the Credit Memo.  In this example, a courtesy credit was entered directly entered to AR Invoices & Memos screen.  I can reverse it and apply Credit Memo 600028 directly to the Debit Memo at the same time:

Reverse and Apply
Release the Debit

Problem solved in two clicks!

Different Credits may have different options available on the (...) menu. Acumatica will show you the available actions in Bold text.  It’s common in Acumatica that we have more than one way to accomplish the same goal.

HTH,

Laura

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