Click on Select and enter the amount to be corrected say -2000 or the total amount -3000.Enter invoice number to be corrected i.e.Don’t give the Invoice Line or Distribution amount.Scroll the invoice header section to the Match Action column and select “Invoice” from the drop down. Give it a number say INV-001DR1 with amount -3000/.Create CR/DR memo for same supplier in INV-001.Create an invoice if you want to test this scenario, let’s say invoice number INV-001 with amount 15000/.Here are the steps for entering the invoice for Scenario 1 In second scenario where the invoice is overcharged but open or not paid a CR/DR memo will reduce the payment amount. In first scenario where invoice was overcharged and has been paid to the supplier a CR/DR memo will create a Refund i.e. There are two possible scenarios in Payables for entering a CR or DR memo a Credit Memo is given by the supplier if it finds any discrepancy in the amount invoiced and debit memo is given by the customer if they identify any discrepancy.ĭebit Memo: A negative change in invoiced amount identified by customer and sent to supplier.Ĭredit Memo: A negative change in invoiced amount identified by supplier and sent to customer Here in Payables the difference between CR and DR memo is of initiation i.e. However this concept doesn’t apply in Oracle Payables. There is a concept that if an invoice amount needs to be increased then a CR memo is entered and if it needs to be decreased then DR memo is entered. the organization using Oracle Payables (Payer) or the Supplier (Payee) it is going to pay. This reduction can be of any reason and from either side i.e. In Oracle Payables both of them are used to reduce the invoice amount. To check or change tax information for the document, click the Taxes tab.Before getting into the transactions, let’s see what are Debit Memos and Credit Memos.To check or change the general ledger accounts and tax information for a detail, click the Edit icon in the Taxes column to open the Detail Taxes screen.įor more information, see Editing Taxes on an Invoice, Debit Note, or Credit Note. If you use optional fields, click the Optional Fields column and use the generated Detail Optional Field screen to check, change, or add optional fields for the detail.Indicate whether the document discount applies to this detail.Enter an optional comment, and indicate whether to print the comment when you print the debit note or credit note.If retainage applies to the document you are adding, enter the percentage retained or retainage amount, the days retained, and the retainage due date for this detail. Enter retainage separately for each detail.You may enter a negative quantity, but the invoice total cannot be negative. More.Įnter the item number, unit of measure, quantity, price, and distribution code. Any special instructions regarding the credit note or debit note.Įnter distribution details in the detail entry table.Purchase order number and sales order number (if known).Fiscal year and period to which you want to post the document.Document date (for aging and statistical purposes).The apply-to document that this credit note or debit note is offsetting.If you are processing a retainage credit note or debit note, specify the original document for which you are now processing retainage. Select credit note or debit note, retainage credit note, or retainage debit note. Retainage fields become available throughout the Document field-sets, allowing you to specify the retainage percentage or retainage amount, retention period, and retainage due date for each detail. If you have a multicurrency ledger, you also use the Retainage tab to specify whether to use the original exchange rate or the current exchange rate when you produce the retainage document. When you select the Retainage option, a Retainage tab becomes available that lets you specify the retainage terms for the document. This option appears in Invoice Entry only if you selected the Retainage Accounting option for your Accounts Payable system.
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