With Clubmaster Credit Memo(s) may be created by several methods. The method you choose is dependent on the way you do business. To create a Credit Memo pertaining to a customer invoice to make corrections or adjustments simply enter the original invoice number. Clubmaster will automatically create the Credit Memo and assign a number based on the original invoice with the ability to modify. Additionally, Credit Memo(s) may also be created for miscellaneous reasons using a reason code, that is, to establish the explanations most commonly used for processing Credit Memos other than products in Inventory. Reason Codes are setup in the Clubmaster File Maintenance Module. Credit Memos automatically affects Sales Figures, Accounts Receivable and Inventory - if using Clubmaster Inventory Control you have the option to return the product back to stock.

A Debit Memo is issued to make a Debit Adjustment (or additional charge) against an invoice already existing in your Accounts Receivable files OR to create a charge to a customer as a separate entity. For example, you may want to issue a Debit Memo for freight only or for a service charge. In short, a Debit Memo is an Invoice created without an order being entered to create the invoice.

As important as the ability to handle a variety of payment types, is the ability to know immediately the exact status of a customer’s account. Through inquiries and reports, customer information like Accounts Receivable balance, on-account amounts, open invoices and amounts, open credit and debit memos, last paid date and average days to pay is instantly available. Such reports as the Accounts Receivable Payment History Inquiry and the Accounts Receivable Payment Inquiry by Check Number provide detailed payment history information.

Printing the aging reports (generated either by customer or salesman) will provide you with the status of each open account from current receivables through 150 days. This is the same information which will appear on the monthly statements you send to your customers. At your discretion, you may assess a service charge on overdue accounts. This amount will appear on the monthly statement. The percentage is maintained by you in the Company Master File. Preview Reports may be printed for each aspect of cash receipts to review transactions for potential change prior to printing journals which update to General Ledger.

Normally, as often as you create debit or credit memos, you will print them to mail to your customers. Any day you create a credit or debit memo you will probably want to print and mail a record of the memo to your customer. Although printing a hard copy of your memos is not mandatory, it is standard business practice.

Miscellaneous Cash Receipts enables cash application directly into the General Ledger - to specific General Ledger account(s), rather than to a particular invoice. This unique feature allows you to enter a cash receipt that is un-related to sales - such as a refund.

The Preview Reports should be printed out before running the Registers/Journals. Preview reports allow you to review the transactions and to facilitate necessary changes prior to updating to the General Ledger when running Registers/Journals.

Every day your primary Accounts Receivable function is to apply cash received to your customers' records.

On any day that you apply cash to any customer invoice, you should run the Accounts Receivable Cash Receipts Register. Remember, when you run this register, you are not only printing the Cash Receipts Journal, but you are actually updating your Accounts Receivable and General Ledger files. So running (and printing) your Daily Accounts Receivable Cash Receipts Journal on a timely basis is important toward keeping your Accounts Receivable and General Ledger files up to date.