#CREDIT MEMOS TRIAL#

Preview the report and then choose to export or print it.

Select a report from the Report List dialog.

In the list view, click More > View Reports.

Only then it becomes available for cutting a check to the client. The next step is to create a bill payment for your client (payee) because in the background, CORE creates a system vendor bill for the above retainer refund transaction.

Click Save & Done or Save & Add Another.

Enter the Refund Amount (retainer refund amount) on the grid.

On the Create Credit Memo screen, select Type as Refund Retainer.

To create a credit memo for a retainer refund, watch this video or follow these steps: You can create a retainer refund in CORE from the Credit Memos screen and later pay off the liability from the Bill Payments screen to complete the refund process. The next step is to create a bill payment for your client (payee) because in the background, CORE creates a system vendor bill for the above project credit transaction. You have successfully issued a credit memo as a project credit. Check Field Descriptions above for details.

Click Add and enter the required information in the top row of the grid.

Project on which you want to apply the credit.

On the Create Credit Memo screen, select Type as Project Credit.

Click Create Credit Memo on the top-right.

Open the Credit Memos screen from the side menu > Billing > Transactions.

To create a credit memo for a project credit, watch this video or follow these steps: It can be entered and edited using the formatting toolbar. For paid subscriptions, this limit is 50 recipients at a time.

#CREDIT MEMOS TRIAL#

However, if you are using a trial version of CORE, it does not allow more than 3 distinct recipients at a time. You can click on the Choose Contact icon to open the Address Book and select multiple individuals or groups to email. You can send an email to multiple recipients and also copy them using the CC and BCC options. It helps in classifying and reporting transactions. Transaction entity that is associated with a credit memo. In case of Refund Retainer, it is the retainer refund amount. It is the sum of all credit line amounts in the grid.Īccount where a credit memo transaction is posted, such as the income, expense or bank account.Īmount credited to the client. Refund Retainer: This credit option is used to refund clients for their retainer.It can also be given as a refund on a payment. Project Credit: Credit is given to the clients in favor or exchange for something.Mark Screen as Favorite Field Descriptions Field Name You should use them independently of one another: credit memos to pay back the credit liabilities of a client (Accounts Payable) and credit payments to reduce the outstanding amount on invoices (Accounts Receivable). Note: Credit memos are not linked to the 'Credit' type payments in CORE. Refund retainers: You can create a credit memo for a client to refund a retainer and then pay the amount to the client.Ĭlick to watch this video on using credit memos in CORE.įrom the accounting perspective, credit memos debit and decrease your income account on the other hand they credit and increase your A/P.Enter project credits: You can create a credit memo for a project, post it to the relevant account and later pay this liability to the client.So credit memos in CORE can be used to facilitate two basic functions: That also registers as an expense on the accounting side, lowering your net income and profit.

Both are liabilities that credit your Accounts Payable and can be paid off to the client. You can use the Credit Memos screen to issue project credits or retainer refunds to your clients.

That reduces your A/R, lowering your total income and profit.

Instead, you can use the 'credit' payment method in the Payments screen to do that. However in CORE, credit memos cannot be used directly on invoices to affect the overall amount due or A/R. This type of client credit is a liability that must be refunded to the client or adjusted on invoices. This might be done as a courtesy or for any other reason, such as dissatisfaction over some project work. Typically, credit memos are issued by product or service providers to their clients to reduce the amount owed (accounts receivable) by them on previous invoices. Note: Help content (except videos) has been updated to reflect the UI/UX changes in CORE.