credit memo

[Former Member]

Dear sd gurus good mng.

              i have 2 doubts about credit memo and credit sale

1. how information is passing from credit memo to credit note?

2, what is the difference between credit issues in  finance and  credit in sales ?

     thank you so much ,

[Lakshmipathi · Accepted solution]

1. how information is passing from credit memo to credit note?

Here what do you mean by credit memo ??  Is it credit memo request ??  If so, data would be copied via copy control.

2, what is the difference between credit issues in  finance and  credit in sales ?

Where you come across this terminology ??  Again if you meant the credit note issued by Finance, then the term itself is self-explanatory.  For any claims by the customer, Business needs to compensate their end customer and one among the practice followed is issuing credit note.

Coming to credit sale,  you purchase some goods and pay later by credit card.  Not sure, whether you intend to ask this.  Also, this would be more of general terminologies and not much related to SAP.  Having said this, please ensure you post your queries ONLY related to SAP and most importantly after searching in google

G. Lakshmipathi

[former_member182378 · Accepted solution]

a. After the "payment" is done; in credit memo case by Finance department (of the company) to customer; how and where can this be seen by the sales department staff?

b. Before payment is done, can the credit memo be cancelled?

c. After payment the credit memo can not be cancelled. Is my remark accurate?

Many thanks!

As I donot know how to test these scenarios, as these are not SD but Finance related, I request for input from you.

[Lakshmipathi · Accepted solution]

where can this be seen by the sales department staff?

If you check the document flow from SD side, you can see the Status would be changed.

Before payment is done, can the credit memo be cancelled?

Yes certainly as long as you maintain the respective cancellation number range.

After payment the credit memo can not be cancelled. Is my remark accurate?

It depends on your configuration settings. 

G. Lakshmipathi

[Former Member · Accepted solution]

Dear sir thank u so much for posting answer  bz this question is asked in interview thats way i oosted here

anyway thanks a lot

[former_member182378]

 what is the difference between credit issues in  finance and  credit in sales ?

During interviews, if a question is not clear to you (the interviewee) could always -

1. ask for more information / supporting information (e.g. please give an example)

2. paraphrase the question in other words, and ask for confirmation (e.g. credit in sales: from my understanding is to sell products to customers, for which customers shall pay later. Thus products are sold in credit. Is this a correct example, pertaining to your question?)

Understand clearly the "requirement" of the client. This is one of the most important things for a functional consultant.

[former_member184065]

Hi Venu,

As per my knowledge Credit sales meaning is Selling the Products or Services on Credit Basis. 

1. how information is passing from credit memo to credit note?

Credit Memo and Credit note are both Same terminology used in SAP.There is no difference between Credit note and also Credit memo

.                                                                                                                                                 2.what is the difference between credit issues in  finance and  credit in sales ?

Ex:

A Credit Note is  issued by a seller to a buyer, listing the products, quantities and agreed prices for products or services the seller provided the buyer, but the buyer did not receive or returned. It may be issued in the case of damaged goods, errors or allowances.

In respect of the previously issued invoice, a credit note will reduce or eliminate the amount the buyer has to pay. In other words, a credit note reduces Amounts Receivable

we didnt take Credit Issues in invoice mostly why because we have to manage the Credit management in Order ,Delivery and also PGI level

Thanks,

Naren K

[former_member211616]

Hi Venu ,

Check this thread Mr.G Lakshmipathi very nicely

http://scn.sap.com/thread/916495

Regards

Ramesh