Invoice Correction Process with Credit Memo

A credit memo request is created with the amount to be credited and placed on a billing block for review. The amount to be credited is calculated as the difference between the original amount and the correct amount entered manually in the credit memo request. It must then be released to become billing-relevant and to appear in the billing due list. The credit memo can be created manually. Alternatively, the periodic billing process automatically creates a credit memo to be sent to the customer and posts a journal entry.

Key Process Steps Covered

  • Create credit memo request
  • Approve workflow for credit memo requests
  • Remove billing block (review credit memo request)
  • Create credit memo

Benefits

  • Integrate credit memo processing in the system