To open the Credit Memos List window, select Customers / Credit Memos List or Company / Documents / Credit Memos List on the main menu or
click
the button  in the Navigation Pane and select the appropriate icon  from the Company menu.
To create a new Credit Memo in the Free Accounting application, use the following steps:
- Right click in the working window and select Add, or
press the New button on the main menu, or
select File / New / Document / Invoice on the main menu.
- In the Create Credit Memo window, select the Customer you want to create Credit Memo for.
- Select one of the following options:
- Create a new Credit Memo - Select this option to create a new Credit Memo without creating any documents first.
- Create Credit Memo from Invoice - Select this option to create Credit Memo from Invoice without creating Return Invoice first.
Note: This feature is available only to registered users.
- Create Credit Memo from Return Invoce - Select this option to create Credit Memo from Return Invoice.
- Highlight the necessary document (if you selected the Create Credit Memo from Invoice or Create Credit Memo from Return Invoice option).
- Click the OK button.
- Enter the required information on the New Credit Memo window.
Bill To - The name of the Customer who is giving the items back.
To add a new customer, go to the
New Customer window, by selecting Add New from the Bill To drop-down.
Customer Address - The address of the Customer where any notice, statement or bill relating
to the Customer is sent.
Ship To Address - The address of the Customer the items are shipped from.
Credit Memo # - The Credit Memo number in the Free Accounting system.
Date - The date the return was created. By default, the value of this field is a today's date. It can be changed manually.
Terms - The Customer payment terms are set on the Customer record.
To add a new term, go to the
New Terms window by selecting Add New from the Terms drop-down.
Ship Via - The method of delivery is set on the Customer record, you can change it manually for this document.
To add a new delivering method, go to the
New Ship Via window by selecting Add New from the Ship Via drop-down.
Item - The name of the item being returned.
Item Description - Additional information about the item being returned.
Reason - The reason for the return.
Returning - The quantity of the items against the Invoice / Return Invoice.
Returned - The quantity of the items already returned by the Customer.
Quantity - The quantity of the items being returned by the Customer on the current Credit Memo. It can be changed in this field. Several returns can be made for one Sales Order / Invoice.
UOM - The unit of measure the item is returned in.
Price - The price of the item being returned.
Total - The price of the item multiplied by its quantity.
Comments - Your personal comments about this document.
Gross Total - Shows the amount of the return plus the Total tax amount.
- Save or approve the current document using Documents Toolbar.
The Credit Memo can have one of the following statuses:
- Current - Document was saved, but not approved.
- Approved - Document was saved and approved, but money for the items returned was not paid back to the Customer.
- Partially Applied - Money for the items returned was partially paid to the Customer.
- Applied - Money for the items returned was paid in full amount to the Customer.
After the approval the following transactions will appear in the Master Transaction Ledger:
Return of Goods from Customer;
Sales Tax Return;
Undelivery of Goods from Customer.
After the approval of the Credit Memo the inventory list changes according to the quantity received back.
For the information about the right-click function of the Credit Memos List window see the Right-Click Function window.
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