![]() ![]() (to partially reverse the original receivable)Ī partial credit memo is entered on 6/1/XX for $65 against invoice #103. This credit memo is entered with credit method for rules set to prorate. On 1/1/XX the following invoice is created.Īccounting Rule = Fixed Amount as follows:Ĭase 1 Details: Credit Memo Date = 6/1/XXĪ partial credit memo is entered on 6/1/XX against invoice #103. ![]() This credit memo is entered with credit method for rules set to UNIT.įormula = Net Unit Price = Invoice Amount in this period - any previous credit memos in this period / Original invoice quantity Amount to Credit in this period = Net Unit Price for period * Units to Credit (to fully reverse Period 4 accounting entry)Ī partial credit memo is entered on 6/1/XX for 8 units with an amount of $65 against invoice #102, assuming that this invoice consists of 10 units with a value of $10 each for a total of $100. (to fully reverse Period 3 accounting entry) * A = Credit Memo Amount B = Period 5 Revenue Amount C = Period 4 Revenue Amount D = Period 3 Revenue Amount (to partially reverse Period 2 accounting entry*) (credit memo amount is fully applied by Period 2) ![]() (to partially reverse Period 5 accounting entry)Ī partial credit memo is entered on 2/15/XX against invoice #102, with credit method for rules set to LIFO. (to partially reverse Period 4 accounting entry) (to partially reverse Period 3 accounting entry) (to partially reverse Period 2 accounting entry) (to partially reverse Period 1 accounting entry) (to partially reverse original receivable) On 1/1/XX the following invoice is created:Īccounting Rule =ğixed Amount as follows:Ī full credit memo is entered on 2/15/XX against invoice #102.Ī partial credit memo is entered on 2/15/XX against invoice #102, with credit method for rules set to prorate. Below are some examples of how Receivables accounts for credit memos. The accounting is always the same whether the credit memo is imported through AutoInvoice or entered manually using the Credit Transactions window. You can use the Credit Transactions window or AutoInvoice to create your credit memos. Receivables lets you fully or partially credit your invoices while it automatically creates all the accounting reversal entries for you. Accounting for Credit Memos (Oracle Receivables Help) ![]()
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