Creating Credit Memos in TapGoods PRO
There are two ways to create a Credit Memo in TapGoods PRO. Both methods require manual creation.
Where Are Credit Memos Created in TapGoods PRO?
All Credit Memos in TapGoods PRO are created from the company’s Accounts Receivable profile.
To access this area:
- Hover over Admin on the TapGoods PRO menu.
- Scroll down to Payment Terms, then click Accounts Receivable.
- Select the company you want to work with.
Want to follow along in TapGoods PRO? Click here to navigate to the Accounts Receivable page!
How to Manually Create a Credit Memo
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On the Company's Accounts Receivable profile, click Add Credit Memo.
- Input a Custom Amount.
- Click the dropdown arrow next to Select Customer and select a Customer from the list.
- Click the dropdown arrow next to Line Item to select a Line Item that the transaction will be associated with. [Remember, this is a part of your General Ledger account. Click here to learn more about setting up your General Ledger account!]
- [Optional] Add a Memo Description.
Once you have created a Credit Memo for a Customer, you can later use that Credit Memo for Payment on a Statement.
Creating a Credit Memo from an Overpaid Statement
When a statement has a negative balance (meaning the customer has overpaid), you can convert that overpayment into a Credit Memo directly from the statement. This ensures all credits are created intentionally and tied to a real overpayment.
- On the Accounts Receivable profile of the company, click on the Statements tab.
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Locate the statement with the negative balance, then click it.
- Check the box next to the Order ID and click Make Statement Payment.
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On the Payment screen, check the box next to the order with the negative payment.
- Verify that the date and time on the calendar are correct.
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Click Create Credit Memo.
After a Credit Memo is created from an overpaid statement, it appears in the Credit Memos tab of the company’s Accounts Receivable profile as an "Overpayment" and can be applied to future statements.