Credit Memos

Who this is for. AP Helpdesk Analysts and Managers, and ProcureToPay Managers and Agents. The record tabs are shared by both functions. See the Roles and Access.

The Credit Memos tab lists the vendor credits available to the agent. The columns are built around the two questions a credit raises: what it is worth, and what it offsets.

Credit amounts are negative. A credit memo of −$7,500.00 reduces what is owed by $7,500.00.

Figure 1. The Credit Memos tab. Amounts are held as negatives.

Open the Credit Memos tab

1. In the navigation rail, point to SmartVendor, then select SmartVendor from the menu that opens.

2. Select the Credit Memos tab.

The heading reports the count, for example Credit Memos (97).

Credit memo list fields

Table 1. Columns in the credit memo list

Amount Due means different things on the list and on the record. On the list it is the unapplied balance; on the record it is the full credit total. On a credit that has been partly applied the list figure is the smaller of the two, and quoting the wrong one to a vendor is an easy mistake to make.

Sort and page through the list

Every column reorders the list. Select a heading to sort by it, and again to reverse it. Narrow the list with Filter Records where sorting is not enough.

The rest, Date and Amount Due included, cannot be sorted, so reach them with Filter Records instead. A credit wanted by date or value is a filter, not a sort.

The footer reports the range and the total, for example 1-20 of 97, with the page number beside it. Rows per page offers 10, 20, 50 and 100.

Toolbar actions

A search box sits at the left of the toolbar, followed by Filter Records, Edit Columns and Export Credit Memos, with the currency toggle to their left. This tab carries no bulk actions, so nothing here changes a record.

Table 2. The Credit Memos toolbar

1. Search credit memos

Search reads three columns only: Vendor Name, Credit Memo Internal ID and Credit Memo Ext ID. Check that before concluding a credit is missing, because one wanted by amount or status will never be found this way. Use Filter Records for those.

Figure 2. Searching narrows the list as you type.

2. Filter credit memo records

Filter Records puts a filter row under the column headers. Each column offers the operators its data type allows.

• Text columns, Credit Memo Internal ID, Credit Memo Ext ID, Vendor Name and Reference Invoice Number, offer contains with a text box.

• List columns, Entity and Status, offer in with a picker showing the values present in the data.

• Date columns, Date and Payment Terms, offer on or after, on or before and between with a date picker.

• The Amount Due column offers less than, equals and greater than, compared numerically rather than as text.

Filters combine across columns with AND, and they apply to exports. Clear them from Clear All Filters.

Figure 3. The filter row, with the operator each column allows.

3. Customize table columns

Edit Columns opens the column chooser, and on this tab it is a read-only list. Every credit memo column is required, so all nine appear with a padlock and none can be switched off. Apply and Restore Default remain, but there is nothing to change.

Figure 4. The column chooser. Every credit memo column is required.

4. Export credit memos

Export Credit Memos downloads the list exactly as you are looking at it. The search text, the sort order, every active filter and the currency you have selected all carry into the file.

The button appears only if your role holds the export permission, and it is unavailable while the list is empty. Depending on your company settings the file either downloads straight away, or the export is queued and you are notified when it is ready.

5. Currency toggle

Base and Foreign switch Amount Due between your organization’s reporting currency and the currency the credit was raised in. Set it before exporting, because the exported amounts follow the selection.

Figure 5. The currency toggle, with Foreign selected.

The credit memo record

A credit memo record is a single page: header fields and line items. It is the most self-contained record in SmartVendor, and everything a credit tells you is on one screen.

The breadcrumb reads Credit Memo > Credit Memo Details. The page holds one panel, Credit Memo Records.

Figure 6. A credit memo record with its line items.

Standard Fields

The header of the record.

Table 3. Standard Fields on a credit memo record

Extended Fields carry tenant-specific values, and read No Extended Fields where there are none.

Line Items

Description, Line Entity, Spend Category, Cost Center, Quantity, Price, Amount and Tax Applicability.

Read Liability correctly

The three values are not equally routine: one is the normal case, one is a warning, and one means the source data is silent.

Table 4. The three Liability values

Why the record has no related links

Unlike a bill or a payment, a credit memo page carries no links to other records and no notes panel. The invoice it offsets is named in Reference Invoice Number rather than linked, so to see that invoice, search the Bills tab on the number.

A blank Reference Invoice Number means the credit was raised against the vendor rather than a specific invoice, which is legitimate and common for volume rebates and goodwill credits.

Answer a credit question

Match the vendor’s question to what answers it. Most need one look, and only the last needs the record opened.

Table 5. Common questions

Find the credit a vendor is asking about

• Search on Credit Memo Ext ID if they quote their own credit number.

• Filter on Reference Invoice Number if they quote the invoice it relates to.

• Filter on Vendor Name and Date if they quote neither, which is common.

If nothing returns on any of the three, the credit has not reached your system of record. That is an intake question rather than an application question, and the answer is in the mailbox or AP Invoices rather than here.

Related information

• Open a Record Tab

• Bills

• Vendors