Do credits affect revenue journal?
# ask-stanley-ai
q
Do credits affect revenue journal?
c
AI generated answer (using internal Slack threads):
Based on the conversations, it appears that credits can indeed affect revenue journal entries in NetSuite. When a credit is applied to a customer's account, it is considered a "credit memo" and will remain open until it is applied against an invoice or another transaction, bringing the balance down to zero. This is similar to how a debit to Accounts Receivable (AR) on a journal entry is considered an "invoice". In the case of an error in recognizing revenue, adjustments can be made to the amounts on the journal entry for the recognized revenue. If the period has not been closed yet, you can go to the plan and set the whole amount in the next period, release the next period journal for closed journals, and change the date to the current period. You can also tick reversal and set the date in the same period, which will balance the debit and credit in the same period. Remember, it's important to be careful when posting journal entries to AR and always use a customer record on that line to avoid creating a mess. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******
Slack thread 1: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.830932498
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.81640625
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.811950743
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