Monograph Acquisitions: Credit Memos & Refunds

(Last revised 3/28/11; GZ/CF)

DEBIT INVOICES (WITH CREDIT MEMOS APPLIED)

• For all credit memos entered in Aleph, you will need a debit invoice that has a total price greater than or equal to the total of the credit memo.  In most cases, a credit memo is requested for items that have been returned or in some cases, missing from a shipment. 

• Hold the invoice for the returned item until the credit memo is received.  Once the credit memo is received, notate as follows:
  • On all 3 copies of the debit invoice, write “APPLY CREDIT ##### TO THIS INVOICE”
  • On all 3 copies of the credit memo, write “CREDIT; APPLY TO INVOICE ####”

*NOTE: If a credit memo clears ALL charges from relevant debit invoice, do not enter the credit & invoice in Aleph. 

• On original copy of invoice, write “NOT ENTERED IN ALEPH; ALL CHARGES CLEARED BY ATTACHED CREDIT ####; FILE FOR FUTURE REFERENCE.” 
• On the original copy of the credit, write “NOT ENTERED IN ALEPH; CLEARS ALL CHARGES FROM ATTACHED INVOICE ####; FILE FOR FUTURE REFERENCE.
• Write the vendor code on both the invoice & credit, so that they can be filed correctly upstairs.
• Staple credit memo to debit invoice, & put both in invoice tray.

• In Aleph, enter the debit invoice first with these exceptions:
  • Type = RFP
  • Status = CHK
  • Radio button =  Debit 

• Note: the TYPE & STATUS fields have to be entered this way so that the invoice does not get transmitted to AP in the usual feed to SAP. 

• Enter a note on the header screen that says “APPLY CREDIT #### TO THIS INVOICE.”  The debit invoice header screen should look like this:
• Enter the line item(s) for the debit invoice as usual.

CREDIT MEMOS

• In Aleph, enter the credit memo:
  • Type = CRE
  •  Statis = OTH 

• Radio button = Credit 
• Enter a note on the header screen that says “CREDIT; apply to invoice ####.”  The credit memo header screen should look like this:
• Enter the line item(s) for credit memo.

Radio Button = Credit
                       

• Paper-clip the credit memo copies to the debit invoice copies before putting them in the invoice tray.

REFUNDS

• When a refund check is received, make 1 photocopy of the check.

• When you enter the refund check in Aleph & need to note vendor code, PO#, etc. on a paper copy, always write this information on the photocopy & NEVER on the check itself.  If there are any markings on the check itself, the bank may refuse to cash it.

• Enter the refund check in Aleph.
  • Type = RFD
  • Status = OTH 

• Radio button = Credit
• Enter a note on the header screen that says “REFUND CHECK,” and give a brief reason for the refund. 

• The header screen for the refund should look like this:
• Enter the line item(s) for the refund.

Radio Button = Credit

• Paper-clip the photocopy of the check to the check itself, and put both in the invoice tray.