Entering a Debit Memo in A/R

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Entering a Debit Memo in A/R

 

Overview

This article explains how to enter a debit memo in Accounts Receivable. A debit memo will increase the amount that the customer owes. This transaction type could be used for a late fee, an NSF check charge, etc. Keep in mind that debit memo transactions entered in Accounts Receivable do NOT export to QuickBooks. Therefore, it is important to print a list of these transactions for posting so that manual entries can be made in QuickBooks. The report can be found in Accounts Receivable by clicking on Reports and then A/R Transaction Report. The report can be filtered to include only debit memos.

 

Instructions

From the StockTrac® main menu, go into the Accounts Receivable module. Click on the New Transaction button.

The following screen will display:

 

Window Capture a

Click the Debit button. The Customer Lookup screen will appear:

 

Window Captureb

Locate the customer by searching, by typing in the account number, or by scrolling down the list of customers. Select the customer that the debit memo will be added for.

 

Window Capture c

Enter the information as follows:

Amount – enter the amount of the debit memo.

Reference – specify a reference for this transaction. This will print on the customer’s statement. It is important to enter something here, as this will help you to know which accounts to use when accounting for this manually in QuickBooks.

 

Click OK to save the transaction. The New Transaction Entries screen will display:

 

Window Capture d

After all of the debit memos are entered, they can be printed and/or saved as a batch if desired. They need to be posted to show up on the customer’s account.

Note: If you choose not to print at this time, you can also print this information later by a date range by going to Accounts Receivable, Reports, A/R Transaction Report.

 

Once all debit memos have been entered, click the Post Entries button. A notification will display once posting is complete.

 

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