The Manage Credit Memo tool allows users to access, manage, create, and delete Vendor credit memos.  Credit Memos are used to adjust the cost and quantity of inventoried items when credit is issued from the vendor for returns.  Credit Memos are added to Vendor Invoice Batches and are available to apply against invoices for payment once the Vendor Invoice Batch containing the Credit Memo has been posted.

Use Case(s) 

• Goods received in the Pro Shop were paid for; however, after further review the goods were determined to be faulty, and were returned to the Vendor.  The Vendor issued a Credit Memo for the returned goods, which will be applied to the Vendor’s account, and will offset future amounts owed to the Vendor.

• Accounts Payable wishes to review outstanding Credit Memos in preparation for offsetting future payments to Vendors.