Payment Method in Credit Memos?

eedobson

Hello all -

I have set up a credit card Payment Method Code to allow auto payment posting to a bank account on sales invoice posting. I would like the same functionality to happen in reverse when I post a credit memo. Payment Method Code doesn't seem to be pulled into the Sales Credit Memo header (nor Sales Returns) and when I post the credit memo, the amount is sitting in the customer AR account rather than flowing through to the bank account.

Is there something I'm missing, or is this just not possible?

Thanks in advance,

Liz

aseigle

We reported this to MS a while back and were told it was a design decision.

eedobson

Ah... "it's a feature, not a bug".

Thanks for your quick reply!

Alex_Chow

Why should it? Do you send money as soon as you post the credit memo? I'd assume any controller, CFO, business owner would want to see every penny that flows out of their bank account. This is usually accomplished on the next check/payment run.

No one cares so much about money coming in.

aseigle

Normally I agree, but this approach is often used for internal transactions where funds don't actually change hands between departments/branches. Having to remember to add the Payment Method in this case is a pain.

aseigle

Turns out I answered before fully reading/understanding the OP. You can in fact have the Credit Memo auto close the 'receivable', but the process involves an extra step.

1. Create a new Payment Terms Code (Internal for example)
2. Check the box that says Calc. Pmt. Disc. on Cr. Memos

Add the Payment Terms Code and Payment Method Code to the Customer Card.

Now, when you create a new Credit Memo, the Payment Method Code defaults in.