GCS Software LLC

Debit Memos

A/P→Debit Memos

The AP Debit Memo Entry option records and stores vendor debit memos for processing. The entry process is efficient and comprehensive, featuring effortless data retrieval and automated population features throughout the entry process. Valid values from the corresponding master files (vendor information, payment terms, and GL account numbers, etc.), as well as production-based purchase information, are easily retrieved into the debit memo file during processing. Upon completion, credit information is immediately recorded and available for further processing (invoice application), tracking, and reporting. All associated transactional files including GL balances, costing values, 1099 records, and vendor activity files, etc., are updated to reflect the entries.

Note: Debit Memos can be automatically generated from the Accounts Payable Invoicing program; information contained in the corresponding invoice can be retrieved and populated throughout the debit memo fields for processing.

The Debit Memo program like the AP Invoice program provides varying application methods when producing the debit memo. This option allows the user to generate the memo against production invoices or user defined entries (non-inventory). Once the debit application process is complete, vendor balances are instantly updated, and the debit memo information is distributed throughout the system where appropriate.

Preferences

Terms code is required: Check box to set the terms code required entry on the debit memo.

Override default g/l distribution when matching: Setting for finished goods and raw materials options include No Override, Inventory, W.I.P., C.O.G.S.

1 | P a g e Debit Memos

GCS Software LLC Debit Memo Header

The debit memo entry form provides a variety of selection options associated with the crediting vendor; the user may create independent (non-production) debit memos or link debit memos against production documents for payment tracking, style costing, materials costing, etc. In addition, the debit memos may be applied and stored under a foreign currency if applicable.

Memo No.: Sequential Debit Memo Number. System assigned numerical identification number assigned upon saving.

Vendor: Vendor Code associated with the Debit memo (required).

Memo Against: Debit memo Type. The Debit memo Against field offers a few options for processing debit memos. The default option, Non-PO or Cut, is used for standard non-inventory related

transactions (i.e., supplies, services, etc.). The remaining options (PO-Invoice, Cut/PO-Invoice), are used primarily for production related entries. The Cut/PO option is used to credit and apply all style costs associated with a production cut order (i.e., cut, make, freight, storage, etc.), and the PO-Raw Material option is used against the purchase of raw materials (fabric, trim, etc.).