About receivable credits

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Entering credit invoices from 3-2 Receivable Invoices-Credits 

Entering payments and applying credits to invoices simultaneously

Applying credit invoices to receivable invoices

Important! You cannot reverse a credit invoice after applying it to an invoice. If you apply a credit invoice to the wrong invoice, make adjusting invoice entries to correct the error.

Many situations could cause you to enter a credit invoice. Suppose a client provides a prepayment on a job, or overpays an invoice. In either case, it is necessary to reduce the accounts receivable.

Here are some points to consider:

  • When entering cash receipts, you can apply the credit invoice.How?
  • You can review the record totals before saving the invoice or credit. On the Options menu, click Calculate.
  • You can provide part numbers on an invoice. Sage 100 Contractor only includes the parts on the invoice, and does not use the part information elsewhere.
  • When you enter a tax district number in the Tax District text box, you can select which items to tax. In the Taxable column, type Yes if the item is taxable, or No if the item is non-taxable.

When you save a credit invoice, Sage 100 Contractor reduces the job balance. However, the credit invoice retains status 1-Open until you apply it against other invoices in the 3-3-1 Cash Receipts window. After you have applied the credit balance to other invoices, Sage 100 Contractor assigns the credit invoice status 4-Paid.

  1. Open 3-2 Receivable Invoices/Credits.

  2. In the Invoice# text box, enter the credit invoice number.

  3. In the Date text box, enter the date of the invoice.

  4. In the Job text box, enter the job number.

  5. If the job uses phases, enter the phase number in the Phase text box.

  6. In the Description text box, enter a brief statement about the invoice.

  7. In the Due Date text box, enter the invoice due date.

  8. In the Discount Date text box, enter the due date by which payment must be received for the discount to apply.

  9. In the Status list, click the invoice status.How?

  10. In the Type list, click the invoice type.How?

  11. In the grid, for each item:

    1. In the Description cell, enter a brief statement about the item.

    2. In the Quantity cell, enter the quantity of items as a negative amount.

    3. In the Price cell, enter the price for a single item.

    4. In the Account cell, enter the ledger account number.

  12. Click File > Save.

You can also apply a credit invoice to an invoice at the time you save the record. If the invoice is fully paid by means of the credit invoice, Sage 100 Contractor changes the status of the invoice to 4-Paid. If the invoice still has a balance after applying the credit, the invoice status is not changed. Likewise, if the entire amount of the credit is applied, the status of the credit invoice changes to 4-Paid. If a credit invoice still has a balance after applying it to an invoice, the status of the credit invoice remains unchanged. You can then apply the remaining credit invoice balance to other invoices in the 3-3-1 Cash Receipts window.

  1. Open 3-2 Receivable Invoices/Credits.
  2. In the Invoice# text box, enter the credit invoice number.
  3. In the Date text box, enter the date of the invoice.
  4. In the Job text box, enter the job number.
  5. If the job uses phases, enter the phase number in the Phase text box.
  6. In the Description text box, enter a brief statement about the invoice.
  7. In the Reference# text box, enter the receivable invoice number to which you want to apply the credit.
  8. In the Due Date text box, enter the invoice due date.
  9. In the Discount Date text box, enter the due date by which must be received for the discount to apply.
  10. In the Status list, enter the invoice status.How?
  11. In the Type list, enter the invoice type.How?
  12. In the grid:
    1. In the Description cell, enter a brief statement about the item.
    2. In the Quantity cell, enter the quantity of items as a negative amount.
    3. In the Price cell, enter the price for a single item.
    4. In the Account cell, enter the ledger account number.
  13. Repeat step 12 for each item.
  14. Click File > Save.