GP Apply Payables Management Credit Memo

By Tracey BrinkmanAccounts Payable, Microsoft Dynamics GP, , With 2 comments

This article describes how to use the Microsoft Dynamics GP Apply Payables Management Credit Memo. When you enter a Credit Memo in Payables Transaction Entry you can click the Apply button to apply the Credit Memo at that time to existing document(s) with an Amount Remaining.

Payables Transaction Entry

You can also use the Auto Apply and Unapply features.

Apply Payables Documents

Auto Apply button

Applies the payment, credit memo, or return to as many documents as the document being applied permits. Documents are applied by due date or document date, depending on your selection in the Payables Management Setup window.

Unapply button

Unapplies all the displayed payments, returns, and credit memos.

However there may be times when you have already entered the Credit Memo without it being applied. Now you need to apply an existing Credit Memo to other existing documents.

Apply Payables Documents – Allows you to apply the Remaining Amount from existing Credit Memos to Open Documents for the Vendor. (You can apply Returns, Credit Memos and Payments.)

Purchasing>>Transaction>>Payables>>Apply Payables Documents

Open Payables Documents

Once you select the Vendor you can use lookup to see outstanding documents to apply. This example shows 2 Credit Memos that have not been applied.

Once you choose the document you will be applying, enter the Apply Date (for aging) and also the Apply Posting Date (for posting to General Ledger).

You will then see a list of Vendor Documents that are available to apply the Credit Memo against.

The Auto Apply button, applies the credit memo to as many documents as it can, depending on your selection in Payables Management Setup.

Or you can manually distribute to the Invoices of your choice by entering the amount you want to apply in the grid.

Apply Amount

In my example, I applied $75.62 to Invoice 1700, this lowered the Amount Remaining from $7,406.47 to $7,330.85.

I applied $50.00 each to invoices 456 and PO2044, this lowered the balances on each of these from $93.55 to $43.55.

Apply to Documents

Payables Transaction Inquiry

After Applying the Credit Memo, Inquiry shows the adjusted Unapplied Amount.

Contact us at support@isolutionspartners.com if you need assistance with this procedure.