Credit Memo Fields

Enter or select a customer ID for this transaction. To display a list of existing customers, type ? in this field, or select the Lookup button. To add a new customer, type + or double-click the field, which displays the Maintain Customers/Prospects window.

If you want to make a sale to a customer you don't want on your permanent customer list, use the Receive Money task.

This is the customer name and bill-to address.

• If the customer is an existing one, the name and address cannot be edited here, but they can be edited in the Maintain Customers/Prospects window.
• If the customer is a new one (created by typing in a new Customer ID), you can enter the name and billing address directly in the Bill To fields.

Sage 50 displays the current accounting system date or the first day of the accounting period if you are not in the current period. Enter the date of the transaction; this date is used for aging and is required.

This is the date that the credit is due. The date shown is either based on the Terms for the customer or comes from the invoice this credit memo is applied to. You can change this date if you need to.

The due date is required.

Leave this blank if you want the program to print a credit memo. Sage 50 will suggest a number when you print the memo. Enter a credit memo or other reference number if the memo is being entered after it was created elsewhere—for example, if it was first entered manually.

You can enter the customer's purchase order number or any other piece of information that will identify the sale to the customer. This information appears on customer statements and prints on the invoice.

If you apply a sales order to this sales/invoice, this information comes from the sales order.

Click this link to see a list of transactions that are related to the one you are currently viewing. For instance, if you were viewing a converted quote, clicking this link will open the Related Transactions window and it would show you a list with the sales order, proposal, or sales invoice that the quote was converted to.

Selecting this shows you the current terms and allows you to change the terms of the sale. This includes the:

Discount Amount: This is the discount the customer receives if he pays within a certain date.

Discount Date: This is the date up to when the customer's discount is good.

Discount Terms: This displays the discount, how many days the discount is good for, and the number of days from the date of sale when payment is due.

If you apply a sales order to this sales/invoice, this information comes from the sales order.

You can optionally enter a sales representative so that you can identify sales by individual representatives. To display a list of existing sales representatives, type ? in the this field, or select the Lookup button. To add a new sales representative, type + or double-click the field, which displays the Maintain Employees/Sales Reps window.

If you apply a sales order to this sales/invoice, this information comes from the sales order.

Use this field to enter a maximum 20-character authorization code for a customer return or credit. This is an optional field.

Enter or select a valid general ledger account to use when recording money owed for this sale. This only applies if your company uses the accrual method of accounting. If your company uses the cash-basis method, then you can't enter an A/R account. The default for the field will be the last account entered. If no account has been entered, this field will be blank.

If you apply a sales order to a sales/invoice, this information comes from the sales order.

To display a list of existing items, type ? in this field, or select the Lookup button. To add a new item, type + or double-click the field, which displays the Maintain Inventory Items window.

This field appears only for the Product invoice template.

Enter the number or quantity of items the you want to credit to the customer or treat as a return. Once the credit memo is saved, Sage 50 will automatically add this quantity to inventory.

You can enter up to 160 characters for the description. Selecting the button displays the full-length description if it is longer than the first line.

Enter the general ledger income account number to use when recording this sale. If you enter an item number, this defaults from the sales account you entered for the item in the Inventory Items selection of the Maintain menu. If you do not select an inventory item, it defaults to the customer's default G/L sales account.

To change the account ID, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.

You can either accept the number that defaults here when you entered an inventory item or enter a new number. If you did not enter an item ID, you can skip this field by pressing ENTER. Then enter the total for the line in the Amount column. You can have up to five different price levels to choose from in the list, in addition to the Last Invoiced Price. The price levels are set up in Maintain Inventory Items.

This is the inventory item sales tax type. It defaults from the tax type you set up for this item in the Maintain Inventory Items window. You set up the sales tax types in Inventory Defaults. To see a list of different tax types, type ?.

Sage 50 calculates the amount by multiplying the quantity by the unit price.

If you are tracking job cost, select the job ID (if the job uses them) to which this line item applies. To display a list of existing jobs, click the folder button or type ? in this field. Tell me more about selecting job records.

From the Proposals window, you will see only jobs that have a Billing Method of Percent of Proposal or No Progress Billing. Moreover, if you have already billed or partially billed this line item, you will not be able to edit the job information on this line item.

To use job costing to its greatest potential, you should try to assign transactions to the most detailed level of the job possible (which can include job phases and costs codes). (Sage 50 Premium Accounting and higher)

Enter the quantity sold of this item. Once the quantity is entered, it is multiplied by the unit price to determine the amount. This appears only for the Standard invoice template.

This field displays the credited amount for the job on this Credit Memo. The amount here will be the total of all line items on the Apply to Invoice # tab and the Apply to Sales tab for this particular Job ID.

To have an amount appear here, you must have credited amounts for a job that are greater than 0.00 and you must specify a Job ID on the associated line items.

If you change any value associated with this job, the amount in this field will automatically be recalculated.

This field displays the job for which retainage will be withheld. All jobs, phases, and cost codes with credited amounts on the Apply to Invoice # and the Apply to Sales tabs will be summarized in a single line for job.

For the Job ID to appear on this page, there must a line item on either the Apply to Invoice # or Apply to Sales tab that has an amount other than 0.00.

This field displays the general ledger account to which retainage distributions will be applied for the current transaction. The default value for this field is set up on the Billing & Retainage tab of Job defaults.

You can change the value if you want by either typing in a new account number or by selecting an account from the lookup.

This field will be hidden if the option to display general ledger accounts in Global Options is selected.

This field displays the retainage percent for the job. Its default value is the Retainage % field set up for this job on the General tab of the Maintain Jobs window.

You can change this field manually. If you do so, the Retain Amount will adjust when focus leaves the Retainage % field. Similarly, if you change the Retain Amount field, this Retainage % will update accordingly.

This field will display the calculated amount of retainage for the job. All credited amounts on the Apply to Invoice # and Apply to Sales tabs will be added and multiplied by the Retainage %. The total will be the amount in the Retain Amount field.

You can change this field manually. If you do, the Retainage % will be updated accordingly.

In addition, this field will update automatically if the credited amount or the retainage % is changed.

This is the total sales tax calculated for the transaction. Only items that are taxable (defined in the Tax column) will be taxed based on the sales tax ID selected. You can edit this field, if necessary.

Enter the freight charges for this transaction here. If you are applying a sales order to an invoice and had freight on the sales order, select the All button to transfer the total freight amount to the invoice.

If you are applying a proposal (Sage 50 Premium Accounting and higher) to an invoice and had freight on the proposal, select the Bill button and then select The remaining percent to bill of the Proposal to transfer the total freight amount to the invoice.

If you are applying a proposal to an invoice during Select for Progress Billing, click the Bill button and select The remaining percent to bill of the Proposal to transfer the total freight amount to the invoice.

The Customer Balance field in the Quotes, Sales Orders, Sales/Invoicing, and Credit Memos windows displays the total of all unpaid invoices currently in the customer ledger as of the system date. Even if you are in a previous accounting period and your system date is today's date, the customer balance reflects all unpaid invoices as of today's date.

If you select the customer balance link, the current Customer Ledgers report for this customer will appear.

This indicates the sum of all customer payments and credit memos that were applied to this invoice. The sum does not include payments entered in the Amount Paid at Sale field.

This indicates the sum of amounts for each returned line item listed on the credit memo, sales tax, and freight (if entered). You cannot change it.

This indicates the amount of the credit memo that was applied to the original invoice. You cannot change it.

This represents the net credit still due the customer. Net credit due is calculated as the credit total minus other applied receipts minus the credit applied to the original invoice. You cannot edit this field.