NetSuite - Reversing Charges/Credit Memos

NetSuite - Reversing Charges/Credit Memos

In the event that a customer has a charge on their ledger that should not have been applied, the ledger entry itself cannot be “erased,” but a credit memo can be applied to their ledger to reverse the charge 

Note: A credit memo cannot be added to a paid invoice

To create a credit memo for a charge that was invoiced:

1. Open the customer ledger. 
2. Select the checkbox next to the item that needs to be credited
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   • Note:  Because some charges are grouped together on the same invoice, checking one box may automatically check all the charges on that invoice. This does not mean that all the charges will be credited – see further steps. 
3. Click the Credit Memo button at the top of the screen. 
   
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4. Check the box next to the item to be credited.  The Credit Memo Amount will automatically display in the top section.  
   • Please note, if only part of the charge is to be credited,the amount of the credit memo can be edited in the lower part of the screen by clicking in the Credit Amount column and editing the payment
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5. Add a Reason for applying the credit memo, then click Submit.
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The credit memo will display on the ledger. 

 

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