Invoice Credit Dialog Box

When you create a credit memo, use this dialog box to view and enter credit memo information such as the credit memo amount and general ledger accounts.

Location

To display the dialog box, complete the following steps:

From the Vision Navigation menu, click Billing > Interactive Billing.
On the Billing Session Options dialog box, select settings and click OK.
On the Interactive Billing form, select a project and then click Tools > Invoices on File.
In the Invoices on File dialog box, select the invoice to apply the credit memo to, and then click the Credit Memo button.
On the Invoice File Selection dialog box, enter a file for the data entry session and then click OK.

Contents

Field	Description
Search	Use the left and right arrows in the top right corner of this dialog box to scroll to the different WBS (work breakdown structure) levels within a project and display that level's credit memo information in the invoice credit grid on this dialog box. An alternative way to view a different WBS level's information in the invoice credit grid is to click beside the Search field. This opens the Invoice Lookup where you can select a WBS level for a project. This may be helpful if you have a large number of WBS levels and items for a project.
Project	This displays the project number to which this credit memo applies. This field is for reference purposes only.
Date	This displays the date that is entered in the Invoice Date field of the Billing Session Options dialog box. This is the credit memo date that displays on the credit memo and on Accounts Receivable reports.
Phase	This displays the phase (WBS2) number to which this credit memo applies, if applicable. This field is for reference purposes only.
Task	This displays the task (WBS3) number to which this credit memo applies, if applicable. This field is for reference purposes only.
Currency	If you use the Multicurrency feature, click this button to open the Currency Override dialog box. You can then select a different transaction currency for the credit memo or override the exchange rate used for the credit memo.

Invoice Credit Grid

Field	Description
Insert	Click this option to add a new line item to the credit memo. A new blank row is inserted below the current row.
Copy	Click this option to add a new line item to the credit memo by copying an existing line item in the grid. To select a line item to copy, click anywhere in its row and then click Copy. The copied line item is placed below the line item that it was created from. Modify the entries for copied line item as needed.
Delete	To delete a credit memo line item in the grid, select the line item (row) and then click this option.
Invoice Section	This column prefills with the invoice section name, such as Fee, Labor, or Expense, from the original invoice for the line item. The invoice section name determines where the credit amount displays on the credit memo. When a row in this grid prefills from the original invoice, you should not change the section name if an amount is associated with that section. Doing this can cause the amount to be posted to an incorrect general ledger account. When you insert a new row in the grid to add a new item to the credit memo, select the invoice section for the item.
Tax Code	For line items that are tax amounts, this column prefills with the tax code from the original invoice. When you enter a negative amount in the Amount column for a tax code, the tax basis is calculated automatically and prefills in the Tax Basis field in this grid. This column displays only if you use the Tax Auditing feature, which you turn on via the Tax Auditing tab in Accounting Company Settings.
Account	This column prefills with the revenue account from the original invoice. You can select a different account from the drop-down list. This is the revenue account to which the credit memo line item will be applied.
Amount	Enter the amount for the credit memo line item. The amount that you enter cannot be more than the invoice balance amount. Enter a negative amount for credit memos. If you selected Yes on the dialog box that displayed before the Invoice Credit dialog box opened, which asked "Do you want default credit amounts equal to the original invoice amounts?," the Amount column prefills with a value that is opposite of what was on the original invoice. For example, if the original invoice amount is $500, the Amount column prefills with -$500. You can enter a different amount. If you selected No on the dialog box that asked "Do you want default credit amounts equal to the original invoice amounts?," this column does not prefill with a value.
Retainage	Enter any retainage for a credit memo as a positive number. If you selected Yes on the dialog box that displayed before the Invoice Credit dialog box opened, which asked "Do you want default credit amounts equal to the original invoice amounts?," this column prefills with a positive retainage amount. This is the retainage amount that was applied to the original invoice (for the invoice section entered for the line item), but it is positive amount rather than a negative amount. You can change this amount. If you selected No on the dialog box that asked "Do you want default credit amounts equal to the original invoice amounts?," this column does not prefill with a retainage value. This column displays only if the Enable Retainage check box is selected on the General tab of Accounting System Settings.
Tax Basis	When you enter a credit amount (negative amount) in the Amount column for a tax code, the tax basis is calculated automatically and prefills in the Tax Basis column on this dialog box. This column displays only if you use the Tax Auditing feature, which you turn on via the Tax Auditing tab in Accounting Company Settings.
Retainer	Select this check box to indicate that the amount for this line item must be treated as a retainer for the project and invoice. This check box applies only if the credit item that is entered in a row has Add-on selected in the Invoice Section column. This option is available if the Enable Retainers check box is selected on the General tab of Accounting System Settings Configuration.
Project	This field displays the name of the project that applies to the credit memo.
Phase	This field displays the phase number that applies to the credit memo.
Task	This field displays the task number that applies to the credit memo.
Client	This field displays the name of the billing client from the original invoice.
Account	This field displays the general ledger revenue account number associated with the invoice row.
Currency	If you use the Multicurrency feature, this field displays the currency for the credit memo.
Exchange Override	If you use the Multicurrency feature, this field displays the currency exchange override information for the credit memo. Use the Currency button to enter exchange override information.
Invoice Totals	This field displays the total amount of the entire credit memo. Vision adds all the individual sections and page totals and displays the total for the entire credit memo.
Retainage Totals	This displays the total retainage entered for this credit memo.
OK	When you click OK, one of the following dialog boxes displays based on whether or not you are allowed to change invoice numbers. (The setting that controls this is the Allow Changes to Next Invoice Number check box on the General tab in Billing setup.) Assign Invoice dialog box — This displays if you are allowed to change the invoice number. Select the next automatically assigned invoice number or enter a different number for the credit memo. A dialog box displays if you are not allowed to change the invoice number. Click OK to assign the next available invoice number. You can also click Cancel to return to the previous window without assigning the next available invoice number.
Cancel	Click this option to close the Invoice Credit dialog box and return to the Invoices on File dialog box without creating a credit memo.
Help	Click this option to open the field-level help topic for this dialog box.