MIGRATED TO http://wavelet.asia/customer-portal/2011/02/28/contra-credit-memo/ To contra a credit memo, is to knock off or reduce an amount of what the customer owed the user company on credit. This action can be taken in situations where, a customer trade-in and purchase, sales return or exchange of purchased items. - Customer > Credit Memo > Contra
- Enter the correct Credit Memo PKID and click 'Submit'. If the PKID is not known, search the PKID credit memo from Customer Credit Memo Listing.
- Details of the credit memo and the list of outstanding invoices to be settled will appear.
- If there is an invoice RM 175 for locks, it can be used to contra the credit memo of RM 100.
- In this case, only part of the credit memo in contra.
- 1st: RM 40 from the credit memo is used to contra the invoice. Enter 40 on the credit side.Click 'Contra' then click 'Confirm and Save Now!'
- The purple box shows the contra amount this time.
- The green box shows the remaindering amount after contra.
 - As can be seen below, the contra 40 from 1st is now 'Previous Contra' in purple box.
- The credit 60 is now 'Open Amount before Contra' in green box.
- In the Debit Balance at the bottom, the amount has already reduced by 40 (175 - 40 = 135).
- 2nd:
RM 25 is then contra off from the credit memo to the invoice. Enter 25
on the credit side. Click 'Contra' then click 'Confirm and Save Now!'
- Pink box shows the contra amount for the 2nd time.
- The blue box contains the remaindering amount of 35 from credit memo after contra.
 - The Credit 35 in blue box 'Open Amount After Contra' has been transferred to 'Open Amount before Contra'.
- Previous Contra of Credit 65 in orange is the total of both 1st and 2nd (20 + 45 = 65).
- Open Amount after Contra in yellow is the remainder of the credit memo after 2 contras.
- The debit balance of 110 in the (175 - 65) is left, shows that the customer is required to pay 110 after contra credit memo.
- To settle the invoice automatically of 100 from credit memo at once, just click 'Auto Settle'.
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