Have you ever come across in circumstances where the Credit Memos Receivable (CMRs) from the supplier return lines, either not invoiced or partially invoiced, and pending a credit memo.
Sage X3 provides a feature to generate Credit Memo Receivable. A credit Memo Receivable function is used to generate recurrent CMRs and it runs at the end of the month.
If a return has been posted at the end of month N and it has still not been the object of a credit memo in the month N+1, a new CMR will then be generated at the end of month N+1 for this return line. In effect, this process takes into account the non posted (not having been the object of a CMR), not invoiced returns, or the posted and not invoiced returns whose associated CMR reversal date is less than the new generation date.
It should be noted that the CMRs generated from the non-invoiced returns do not take into account possible order footers.
Based on the PNH automatic journal setup, it is possible to generate a credit memo receivable by return or by Company-Site-Supplier-Currency combination.
This depends on the Grouping option chosen in the automatic journal header:
- Document by line: used to generate a CMR by return
- Grouped document: used to generate a CMR by Company-Site-Supplier-Currency combination.
Two automatic journals are delivered with the application. One is used to generate the credit memos receivable with taxes, the other is used to generate the credit memos receivable without taxes. The CMR generation process always uses the PNH automatic journal.
If the automatic journal PNH1 should be used instead, it will be necessary to delete or rename the PNH automatic journal and to rename the PNH1 automatic journal as PNH.
To successfully bring this functionality follow below steps.
Navigate to: Financials > Closing Process > Credit to receive
- Enter the Company name and Site.
- Select the supplier range.
- Enter the date till credit memo receivable require.
- Checkmark the generation type
- Check to mark the distribution status
- Checkmark product to be processed
- Select Document Type.
- Select Journal Type.
- Click on OK Button
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