Mark Cr. Memos as Corrections

kcloh72

Hi,
anyone knows how to use the field "Mark Cr. Memos as Corrections" found on the General Ledger Setup? What's the impact if I check-mark it?

idiot

From F1
Here you can specify if you want the program to automatically mark a new credit memo as a corrective entry.

Place a check mark in the check box if you want the program to use the function.



Correction Field
The Sales Header Table


Here you can define the entry as a corrective entry.

You can use the field if you need to post a corrective entry to a customer account.

If you place a check mark in this field when posting a corrective entry, the program will post a negative debit instead of a credit or a negative credit instead of a debit. The Debit Amount field (or Credit Amount field) on the relevant account will then include both the original entry and the corrective entry, which will have no effect on the debit (or credit) balance.

For example, you post a credit sale for LCY 500 to Accounts Receivable. This entry is later determined to be incorrect so you make a corrective entry for LCY 500 to Accounts Receivable. On the Accounts Receivable and relevant Customer card, the Debit Amount field will include a debit of LCY 500 and a negative debit of LCY 500. As such, this credit sale and subsequent corrective entry will have no net effect on the amount in the Debit Amount field. On the other hand, if you post the corrective entry as a regular entry, the Debit Amount and Credit Amount fields will both include an amount of LCY 500.

You can see the amount that has accumulated for the relevant account in the Debit Amount field or Credit Amount field on the relevant G/L or Customer Account card.

If you want to use the corrective field, place a check mark in the field.

kcloh72

I see.
Actually I was trying to setup the finance module in such a way that depending on whether the G/L Account is a Debit or Credit Account, the system will post the figures into the Debit or Credit column accordingly.
e.g. AR is a debit account, hence all postings regardless of positive or negative sign should be posted into the Debit column.
If I were to tick this feild, then it "seems" to work accordingly. However I have no idea what would the impact be, as sometimes navision hide things for a reason.

Also, this concept doesn't seem to work for Inventory module. Stocks is a debit account, but navision simply post based on whether the amount is positive or negative.

ssingla

This will not work on the payments.

Alex_Chow

Corrections are good if you want to know your real sales and your real returns (excluding data entry mistakes).