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Yes this definitely should be fixed, considering that's what the help section suggests that it should be doing already when reversing an invoice.

Hi Geoffrey,

In order to process a credit the entire invoice has to be reversed and then edited and then rebilled. It would be nice to be able to create a credit against an invoice without having to go through all the steps of the reversal. I hope this makes more sense for you.

Thank you,
Jennifer Sanchez
Controller

Cascade Concrete Sawing & Drilling
Ph: 253-872-7578 Fax: 253-946-3783
PO Box 3618, Federal Way, WA 98063
www.Cascadeconcretesawing.com

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An invoice reversal is when you have posted an invoice into the system & then (for whatever reason) reverse it out of the system. For example, the invoice was posted to the wrong vendor or possibly posted in the wrong company.
A credit memo is an actual credit memo received from a vendor ��� most likely for the return of items previously purchases.

Aimee Lochowitz, CPA
Controller
520-548-5919
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Just wanted to correct something in my previous comment.  Our AP has advised that the original invoice and the reversal are now moving to history with an R cheque number.  So evidently this has been fixed in the system.  However the system still uses 'Credit" for both types of Credit Memos.  No distinction in the type field.

There are two types of credits labeled as Credit Memo in the system  1) an 'internal' invoice reversal done to correct GL coding / Job Coding  / entry error  and 2) an 'external' Credit Memo issued by a Vendor.   

With both being called  Credit Memo,  it can be difficult to distinguish between them duirng payment processing.  No one likes to show the original invoice /reversals on check stubs unless the error was the vendor's.  

The ideal situation would be the second suggestion of immediately removing the original invoice and the reversal with the same number from the open items and moving them to payment history.  In that way only a replacement invoice is in open items to be selected for payment.  

Forgive me here, but I am not getting the difference between an invoice reversal and a credit memo. What am I missing?

To me they seem the same, so I am obviously missing something here. Thanks for the explanation!