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Hi,
I need to create a credit for a PO that I did a FA Prepay.
Not sure how to do this
Any thoughts

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Laurie,

On the Purchase Order, you did the FA Prepayment, you can perform a Prepayment Credit Memo. Remember to fill in the Prepayment Credit Memo No., in the Prepayment Fast Tab. After you post this document you need to apply to the Original Invoice. Now on the actual Purchase Order, you can Open the PO, and remove the Prepayment Amount/% and Release the document.

The Fixed Asset will not be effected since it is a Prepayment and I am guessing you have NOT actually cut the check.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP
------------------------------

Original Message:
Sent: Jan 20, 2021 09:29 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi,
I need to create a credit for a PO that I did a FA Prepay.
Not sure how to do this
Any thoughts

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Hi Steve,
Thank you for your help. Unfortunately I DID cut the check and the piece of  equipment did not come through and the equipment broker sent us the money back.
So what do I do now?

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Original Message:
Sent: Jan 21, 2021 08:32 AM
From: Steven Chinsky
Subject: create credit memo for a FA Prepay

Laurie,

On the Purchase Order, you did the FA Prepayment, you can perform a Prepayment Credit Memo. Remember to fill in the Prepayment Credit Memo No., in the Prepayment Fast Tab. After you post this document you need to apply to the Original Invoice. Now on the actual Purchase Order, you can Open the PO, and remove the Prepayment Amount/% and Release the document.

The Fixed Asset will not be effected since it is a Prepayment and I am guessing you have NOT actually cut the check.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP

Original Message:
Sent: Jan 20, 2021 09:29 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi,
I need to create a credit for a PO that I did a FA Prepay.
Not sure how to do this
Any thoughts

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Laurie,

OK, I would first Financially Void the Check. Go to Bank Accounts, then Navigate to the Check Ledger Entries and Unapply and Void Check. This will put the Prepayment Invoice back on the Vendor Ledger Entries as Open. Since actual Invoice for the PO never was actually posted (meaning you fully paid for the Fixed Asset PO), create the Prepayment Credit Memo and manually Apply the Prepayment Credit Memo to the Open Prepayment Invoice. This will close those documents out. Reopen the PO and since you will never be receiving the FA, delete the PO.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP
------------------------------

Original Message:
Sent: Jan 21, 2021 08:41 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi Steve,
Thank you for your help. Unfortunately I DID cut the check and the piece of  equipment did not come through and the equipment broker sent us the money back.
So what do I do now?

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY

Original Message:
Sent: Jan 21, 2021 08:32 AM
From: Steven Chinsky
Subject: create credit memo for a FA Prepay

Laurie,

On the Purchase Order, you did the FA Prepayment, you can perform a Prepayment Credit Memo. Remember to fill in the Prepayment Credit Memo No., in the Prepayment Fast Tab. After you post this document you need to apply to the Original Invoice. Now on the actual Purchase Order, you can Open the PO, and remove the Prepayment Amount/% and Release the document.

The Fixed Asset will not be effected since it is a Prepayment and I am guessing you have NOT actually cut the check.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP

Original Message:
Sent: Jan 20, 2021 09:29 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi,
I need to create a credit for a PO that I did a FA Prepay.
Not sure how to do this
Any thoughts

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Hi Steven,
I want to thank you so much for the help. It worked and now I am all good.

Have a great day!!!!!!!!!

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------

Original Message:
Sent: Jan 21, 2021 08:58 AM
From: Steven Chinsky
Subject: create credit memo for a FA Prepay

Laurie,

OK, I would first Financially Void the Check. Go to Bank Accounts, then Navigate to the Check Ledger Entries and Unapply and Void Check. This will put the Prepayment Invoice back on the Vendor Ledger Entries as Open. Since actual Invoice for the PO never was actually posted (meaning you fully paid for the Fixed Asset PO), create the Prepayment Credit Memo and manually Apply the Prepayment Credit Memo to the Open Prepayment Invoice. This will close those documents out. Reopen the PO and since you will never be receiving the FA, delete the PO.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP

Original Message:
Sent: Jan 21, 2021 08:41 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi Steve,
Thank you for your help. Unfortunately I DID cut the check and the piece of  equipment did not come through and the equipment broker sent us the money back.
So what do I do now?

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY

Original Message:
Sent: Jan 21, 2021 08:32 AM
From: Steven Chinsky
Subject: create credit memo for a FA Prepay

Laurie,

On the Purchase Order, you did the FA Prepayment, you can perform a Prepayment Credit Memo. Remember to fill in the Prepayment Credit Memo No., in the Prepayment Fast Tab. After you post this document you need to apply to the Original Invoice. Now on the actual Purchase Order, you can Open the PO, and remove the Prepayment Amount/% and Release the document.

The Fixed Asset will not be effected since it is a Prepayment and I am guessing you have NOT actually cut the check.

Hope this helps.
Thanks,
Steve

------------------------------
Steven Chinsky
Manager
Wipfli
Mansfield MA
NAVUG/BC Programming Committee Member
NAVUG All-Star, Granite Award Recipient, MCP, DCMP

Original Message:
Sent: Jan 20, 2021 09:29 AM
From: Laurie Gooch
Subject: create credit memo for a FA Prepay

Hi,
I need to create a credit for a PO that I did a FA Prepay.
Not sure how to do this
Any thoughts

Thanks

------------------------------
Laurie Gooch
Accounting Coordinator
Creative Food Ingredients
Perry NY
------------------------------