Entering credit memos

Credit memos are credit invoices from a supplier representing a credit toward goods or services. Credit memos are also called credit notes.

Debit memos are invoices entered to record a credit for a supplier, where a credit memo is not received from the supplier. They can be netted with an invoice, when the invoice is paid. The steps for creating a debit memo are similar to creating a credit memo. We will look at how to enter a credit memo in this recipe.

Getting ready

Log in to Oracle E-Business Suite R12 with the username and password assigned to you by the system administrator. If you are working on the Vision demonstration database, you can use OPERATIONS/WELCOME as the USERNAME/PASSWORD.

How to do it...

Let's list the steps required to enter a credit memo:

1. 1. Select the Payables responsibility.

2. 2. Navigate to Invoices | Entry | Invoices.

3. 3. In the invoice Type field, select Credit Memo.

4. 4. Enter Office Supplies, Inc in the Trading Partner field.

5. 5. Select NEW YORK...