Setup
There are three setup tables required to use this process; Chart of Accounts, Invoice Items, and Invoice Descriptions.
Chart of Accounts
- Setup a new G/L Account with the account type of OCL. You may use the same description as shown in the example below or use other words that will describe that this account will be used for the purpose of transferring a customer credit memo.
Invoice Item
- Setup an Invoice Item linked to the G/L Account created in step 1. Make certain to un-check the Taxable, Available in Sales, and Available in Service checkboxes.
Invoice Description
- Setup an Invoice Description to be used on the credit memo that will be created on the correct customer’s account.
Apply the open customer credit memo to a miscellaneous GL account, then create a credit memo on a different customer’s account using an invoice item linked to the miscellaneous G/L account to which the credit memo was applied from the original customer.
- Open the customer where the unapplied credit memo resides. Highlight the credit memo, right-click and select the Apply option.
- The Apply Customer Credit form will be displayed. Navigate to the “Other” tab and select the option of Miscellaneous. Select the G/L account created in setup step 1 above, and select a category, then Save.
- Open the Customer record of where you want to move the Credit Memo. On the customer tree highlight Credit Memos, right-click and select the New Credit Memo option.
- On the Credit Memo form, use the newly created Invoice Item in setup step 2 above; enter a qty of 1 and the rate of the total credit memo amount from the originating customer. In the invoice description, select the invoice description created in setup step 3 above. In the memo field, you may enter a note stating this credit memo was transferred from Customer “X”. Save when finished.
This process provides a good audit trail on both customers. On the original customer, you may see information in the Activity Ledger and in the Sedona Event Log. By typing in cross reference information in the memo field of the New Credit Memo also provides a good audit trail.
