Credit Memo's tied back to PO's

Currently, when our Supply Chain department returns a product, a Return Number is created. The Return Number is settled when the credit is keyed back to the original invoice. Currently, AP is keying the credit as an expense (standard). Can others share the processes they use to key a credit back to the original invoice #?

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Infor Lawson Financials Group - Discussion

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susan-kirkbride

I'm not sure if you're saying that your AP isn't attaching the return number to the credit or not so just in case they aren't, we've found a workaround to be able to do this successfully. They still enter it as an expense on AP20, however, the extra steps that I'll explain allow it to get attached to the return/close it and attach to the PO.

When doing the return on PO31, supply chain needs to enter the PO number in the Ref No field. This allows AP to search by PO number on AP20. When AP is entering the credit, they will enter it as a normal expense with the vendor, PO#, invoice#, expense/credit type, date and amount. Then on the Misc tab, click on the Return Number field and change the View Options to Returns by Reference Number. From there, you can search the PO and once found, select it so that the return number is in the field. After all of that info is entered, then click the Add button which will provide the distributions at the bottom of the AP20 form.

This may not be the correct way to go about it but it's been working for us and allows everyone between supply chain and AP to know what has happened with a PO/invoice and also get the returns closed out when we are being credited.

unknown

We do credits the same way as Jordanchs does. Use the Misc tab in AP20 to enter the return#. If you do not use the return#, we have found that the computer will add the value of the return items back into the inventory account (when the return is closed manually).

unknown

The status will not close if the credit amount does not match the return amount to the penny. We believe it will be on supply chain to review the difference between the credit amount and the return amount to determine if the difference is acceptable before they close the return.

We need to come up with a process to close the Return Number when the credit memo and return value do not match to the penny. We need the Status to show Closed so we will know by looking at the list what is truly open and waiting on a credit.

Anyone have any ideas or can share how they manage this?

unknown

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