Credit Memo marked as applied but not yet posted - causing variance in AP Balance

Mikayla Owens · April 25

Hello - When running our balance sheet including non-posted transactions vs without, I realized we had two balances (AP and AR Special) both off by $12.99. Upon further investigation, this seems to be caused by an old credit memo in the system, and it is marked as applied but is also marked as "not yet posted" - I see the option to delete this credit memo, but can we delete it even though it's been applied to the invoice? Maybe I am confused what the difference in applied and posted means? Per chat support, they say we have to re-open that accounting period and add a new credit memo, but this seems like risky practice. Any help is appreciated - we just want the not yet posted entry to go away. Thanks!

Kevin Brazell · April 28

@Mikayla Owens
you can delete it. But you still may need to open an earlier accounting period if it was applied in a previous period / year. When you apply a CM to an invoice , FENXT is supposed to do an application transaction, showing the CM applying to that invoice. That should be posted. It's usually a debit and credit to your AP account. From a GL perspective, zero net affect. But if the CM was supposed to be there and it was supposed to be posted, but got missed, I'd wonder if you should just post it then. question will be in an older period or move the post date to a current period.

Chris Uzun · April 28

@Mikayla Owens
It's likely the credit note status was set to “do not post”. There is a business rule setting which prevents people from doing this going forward.

We had the same issue but still haven't been advised on a best path forward to correct the older ones.

Mikayla Owens · May 1

@Kevin Brazell Hi Kevin - thanks this is helpful! However, it seems the status is greyed out as “not yet posted” and does not allow us to change the post date. Would this require us to open up the associated accounting period as well? Thanks for any clarity on this.

Roopa Shivaprasad · May 1

@Mikayla Owens Use post status “do not post” to address this issue. Open the credit memo, you can change the status to “do not post”. Especially if this really old and in a past audit period. This will allow the credit memo to remain in the module and not post to the General Leger. In order to do this, you need to allow do not post as an option for posting in the module setting. Keep in mind though, you may have to capture the transaction via a JE for the do not post, so your subledger ties out. Generally speaking, we want to avoid “do not post” , BUT there are exceptions such as in this case.

Tip - as part of month end run a General Ledger report that is filtered to EXCLUDE all posted transactions and INCLUDE all not yet posted transactions just to catch any lingering transactions to address. At year end run this for the fiscal year too just in case.

Mikayla Owens · May 1

@Roopa Shivaprasad is it possible to change the post status without reopening the accounting period?

Roopa Shivaprasad · May 1

@Mikayla Owens - Yes. It should be since post status in theory. Post status is not related to the period being open. First thing I would recommend is to open the credit memo and see if the post status drop down is not greyed out. Can you confirm? . You should then be able to click into the Post status cell and choose Not Yet Posted, provided your AP or AR settings allow for this.

Mikayla Owens · May 1

@Roopa Shivaprasad Thanks Roopa - I did double check our settings and allowed for “do not post” option under credit memos. However, when I open the credit memo the post status is still greyed out. Any suggestion? Thanks again.

Roopa Shivaprasad · May 1

@Mikayla Owens - Try the following. 1. Unapply the credit memo and see if you can change the post status and then re-apply it where it goes. I need more detail though on your case – for instance is this in AR and you post applications? 2. I know you don't want to do this, but more of a test to see if it lets you modify the post status- re-opening the period.

If none of this works it could be related to a security setting. Also note I'm responding based on limited information on your specific scenario.

Credit Memo marked as applied but not yet posted - causing variance in AP Balance

Comments

Categories