Price Revised

[Former Member]

Hi All,

Can someone please advise on best method to solve the following scenario.

After we raised an invoice to a customer (say for 1,000 pcs at $2 each), and the customer made a payment for this invoice, we realized that we overpriced, and instead of $2 each price should have only been $1.95 (customer payment matched $1.95 per pcs.).

These units are stock items. If we do a A/R Credit then the goods go back to stock.

Many thanks in advance.

Myran

[former_member583013 · Accepted solution]

Create a Service Credit Memo for the difference and select the Revenue GL Account.

Use this CM to reconcile the AR Invoice and Payment

Example: 0.05 X 1000 pcs = 50.00 (CM Value)

[Former Member · Accepted solution]

>

> Create a Service Credit Memo for the difference and select the Revenue GL Account.
> 
> Use this CM to reconcile the AR Invoice and Payment
> 
> Example: 0.05 X 1000 pcs = 50.00  (CM Value)

Can there be a link between the AR Invoice and the Service CM?

[former_member583013 · Accepted solution]

Unfortunately NO. You could make a manual reference in the Remarks.

Suda

[Former Member · Accepted solution]

many thanks for your answers.

Myran

[Former Member]

You can use service type a/r credit memo to keep you inventory right. However, the sales margin will not be correct in this way. If possible, reproduce all necessary marketing documents. Reverse the wrong price from the very begining.

Thanks,

Gordon