Yes
# accountingk
KevinJ of Kansas
08/14/2019, 2:19 PMYes
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Gregory Jones
08/14/2019, 2:27 PMI feel like perhaps that was the proper way to handle our situations...credit the invoice, not the items, as the credits are cancelling out the items. The items were still sold to the customer, but for whatever reason they needed a reduced amount on the invoice
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KevinJ of Kansas
08/14/2019, 3:45 PMSorry, apparently I started typing a continuation and stopped!
KevinJ of Kansas
08/14/2019, 3:45 PMYou could manually create a credit memo seperate from the invoice and apply it to it as long as the invoice is still open
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Gregory Jones
08/14/2019, 3:48 PMNo worries! Thanks for the tip. That method wouldn't require an item to be specified? The zeroing out of quantity on the view i mentioned in my earlier post is a little concerning.
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KevinJ of Kansas
08/14/2019, 3:51 PMYou could use a separate item for that that posts to your desired account to take the reduction to. Typically I see this done as a service item or a non inventory item depending on your account set up
KevinJ of Kansas
08/14/2019, 3:51 PMAlternatively - you can do the reductions via the accept payment and the "discount taken" field if they are using terms that allow term discounts. However, your ability to control what account that posts to is to just one account.
KevinJ of Kansas
08/14/2019, 3:52 PMSo in that case the credit memo using a different item is a good way to do this.
KevinJ of Kansas
08/14/2019, 3:52 PMHowever - if you know at the time of invoice generation that they will be reducing the price - you can use discount items for this as well.
KevinJ of Kansas
08/14/2019, 3:52 PMby applying the discount item on the invoice.
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Gregory Jones
08/14/2019, 3:54 PMAwesome, thank you so much!
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michoel
08/14/2019, 8:31 PMIf we overcharge, our accounts team usually does a credit note using the item we overcharged with the quantity zero and changes the amount manually to the amount we are crediting (we get a warning amount doesn't equal rate times quantity which we ignore). I am not an accountant so not sure if this is really best practice?
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KevinJ of Kansas
08/15/2019, 12:17 AMIt probably depends on what you are trying to do. If you want to reduce the GL account for that item, then it works. I'm not a big fan of having rate quantity mismatches, but you have to if you want that effect. If you want to take the charge elsewhere, you can do that with my alternate method.
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