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Order Based Invoice Memo

What is Order Based Invoice Memo in Businessflo​

An Order-Based Invoice Memo, also known as a credit note. In Businessflo, it's a financial document issued by a seller to a buyer to adjust or cancel a previously issued invoice related to a specific order. It is typically used when there is a need to issue a credit or refund to the buyer due to various reasons, such as product returns, order cancellations, pricing adjustments, or billing errors.

By issuing an Order-Based Invoice Memo, the seller acknowledges the need for a credit adjustment and provides a formal record of the transaction. The buyer can then use the credit memo to offset the amount owed or receive a refund, depending on the terms agreed upon between the parties involved.

How to Create a Order Based Invoice Memo in Businessflo​

  • Module: AR - Accounts Receivable
  • Process Code: ARME - Customer Invoice Memo

There are two options available to navigate to this screen.

  • Click on Accounts Receivable -> Customer Invoice -> Customer Invoice Memo
  • Write the process code for this screen in the search bar which will navigate you here directly.

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The list displays both Sales Invoices Memo and Sales Invoices Memo already been created in the system. To filter the list for Sales Invoices, you can set the filter on the journal indicator and select "S". This will show you the Sales Invoices. From the list, you can create a new Order Based Invoice by clicking the "new" button or select an existing Invoice to view, edit, or delete it.

Process​

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To create a new Customer invoice, fill in the necessary details:

  • Invoice:- Invoice Number will automatically be generated by the system.
  • Journal:- You can choose the Journal where the journal indicator is F
  • The system automatically populates the Journal Nature, Financial Year, and Financial Period based on the selected journal.
  • Posting Date:- Enter Posting Date for this invoice.
  • In Businessflo, the Customer invoice can have a posting status of either Park or Posted. When a document is parked, it is saved without posting the amount to the general ledger accounts. This allows for review and approval by authorized personnel before the document is posted, ensuring proper authorization and accuracy of the transaction. Once approved, the document is then posted, and the amount is recorded in the general ledger accounts.

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Customer Information

  • Customer: Choose the Customer for this invoice by selecting from the list of Customers.
  • Customer Group: The system will automatically populate the Customer Group based on the selected Customer.
  • Customer Tax Zone: If any tax zone is applicable on this invoice, then select the Tax Zone for this Customer
  • Posting Profile:- Select the Posting Profile for this Customer

Currency Information

  • Currency:- Select the required currency
  • Exchange date:- Enter the exchange date and exchange rate will automatically be generated by the system or you can also mention exchange rate.

Payment Term/Method

  • Payment Term:- You can select any payment term from the following list or you can create a new payment term as per requirement.

  • Payment Method:- Select the payment method as per requirement or you can create a new payment method.

General

  • Tax Exempt Number:- If tax exemption is given to this Customer then you can provide tax exempt number.
  • Party Bank:- Mention the party bank.

Terms and Conditions​

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You can write terms and conditions for this Customer invoice in the given text box.

After filling the header fields, click on Create.

Invoice Lines​

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Fill in the grid by selecting Sales No, rest of the fields will be filled with the details of the selected Return Order. But you can update the gross price and discount amount or percentage for this Return Order. You can select multiple Return Order in a single invoice.

To process a parked document in Businessflo, the system performs a completeness check. To initiate the posting, select the posting status as "Post." This action will ensure that the GL (General Ledger) accounts are updated with the corresponding amounts from the document. By selecting "Post," the parked document will be successfully processed, and the necessary financial updates will be reflected in the system.

Now click on Save to save the information provided.