AR Correction or Cancellation Invoice

Epicor ERP 10
1

To correct a price on an invoice already posted that is linked to a shipment - customer wants a corrected invoice. This invoice had several line items with just 1 line item with incorrect price. Do we use correction invoice or just issue a credit for the entire invoice and create a misc. invoice? Would this still link to the original sales order (customer PO) then? We do not have any document type set up to try the procedure of corrected invoice - it would be nice if we could correct even after posting and have all the GL entries updated. Is this easy to set up?

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Simply stated, a Correction invoice leaves the first invoice open and creates a second invoice for the difference, be it another debit memo (under charge) or a credit memo (over charge). The Original Invoice plus the Correction invoice equals the amount the customer owes.

A Cancellation Invoice creates a Credit Memo for the full amount and applies it to the Original Invoice, cancelling it out. The status of the Customer Shipment is changed from Invoiced backed to Shipped, the pricing in the Sales Order is updated and the Shipment is re-Invoiced creating a completely new Invoice for the correct amount.

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Hey Brian,

I am new to Epicor, and we are experiencing the same issue as Patty. Where in Epicor would I go to create a credit memo?

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Iā€™m fairly new as well and here are my notes for Credit Memos:
Financial Management > AR > General Operations > AR Invoice Entry > Group ID > at top bar Actions > Create Cancellation Invoice > Invoice # (Legal #) > ā€œAre you sure?ā€ Yes - creates Credit Memo > at top bar Actions > Group > Edit List > print preview > at top bar Actions > Group > Post > Submit

Financial Management > AR > General Operations > Apply Credit memo > New Doc to Apply > source type: Credit Memo/Correcting Invoice > Document - search for CM > New Invoice > in Applied Invoices enter invoice number want to apply CM to, tab > at top bar Actions > Apply Credit Memo > done ā€“ this clears the AR invoice from aging, and ā€˜puts backā€™ sales order to ā€œReady to Invoiceā€ status.

hope this is correct and hope it helps.

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Hi Julieann,

Thank you for the mapping. That really helps. I will go through these steps and see if that fixes my situation. Based on what I see so far, I believe it will.

Thanks again,
John

6

John,
What did you end up doing in your scenario? Did you do a credit memo write off for that one line?