Process Purchase Credit Memos

In GoldFinch, there are times when a Purchase Credit Memo needs to be processed, either for returning items to a vendor or for services. If you are returning items, you should follow the Purchase Return process. However, if you are creating a credit memo for a service or other non-inventory-related transaction, you can create a Purchase Credit Memo directly.

How to Create a Purchase Credit Memo

Access Purchase Invoices:

• Open the App Launcher and search for Purchase Invoices.

  

Create a New Purchase Credit Memo:

• Click New to start a new Purchase Credit Memo.

• Enter the vendor's information.

• Check the Credit Memo field to indicate that this is a credit transaction.

Enter Line Information:

• For each line of the credit memo, enter the details of the credit.

• The Quantity will default to -1, indicating that a credit is being posted.

• The Line Amount will automatically calculate, showing a negative amount based on the unit cost and quantity.

Save the Credit Memo:

• Once all line information is complete, click Save.

Adjust Payment Discount (Optional):

• If you do not want to calculate a Payment Discount for the Credit Memo, you can zero out the Payment Discount % field manually or use a predefined flow to adjust it automatically.

Posting the Credit Memo

Click the Post button on the Credit Memo.

Enter Vendor Credit Memo Number:

• Enter the Vendor's Credit Memo Number. This is a mandatory field and must be unique for the vendor.

Enter the Posting Date:

• Specify the Posting Date for the credit memo to reflect when the transaction occurred.

Post the Credit Memo:

• Once all details are finalized, post the Credit Memo to complete the transaction.

This process allows you to efficiently manage purchase credits for both inventory returns and services, ensuring accurate financial records and vendor management.

Article Process-Purchase-Credit-Memos  ·  Last updated September 29, 2025 · GoldFinch ERP Help Center