Credit/Debit Memo for FI Revenue Account Correction

[Former Member]

Few of our customers were setup incorrectly and their revenue got posted to the wrong accounts.  The issue has been fixed, however, we now need to undo the incorrect postings that have already been done (this is causing incorrect revenue numbers and thus could also be a legal issue).  Could someone tell me how the credit and debit memos can be used to adjust the accounts so they now reflect correct numbers?  Thanks.

[suman_sardar2]

Hello Akshat,

You can create the Credit or Debit memo request from the wrong Billing document then you can generate the Credit & Debit memo from that request. For this you need to take care of the Billing to Sales doc copying control. For more information please take a look in the below link; Also there are plenty of resources available over the internet also try to read those too to have a better idea.

Thanks,

Suman$

Debit and Credit Memo - ERP Operations - SCN Wiki

[Former Member]

Thanks, Suman.  But could you elaborate a bit?  Let's consider this scenario:

Customer X (Domestic) order $1M worth of goods and Customer Y (international) order $2M dollars worth goods.  However, let's say that Customer X was incorrectly setup as Customer Y, so the international revenue accounts is $3M and domestic revenue account is $0.  We now have to balances this by making int'l acct $2M and domestic acct $1M.

I understand how we can use credit/debit memos for returns, but this case may warrant a different approach?

Thanks

[phanikumar_v3]

We now have to balances this by making int'l acct $2M and domestic acct $1M.

Currently what was the procedure you are following to retrieve the above information??

Customer X (Domestic) order $1M worth of goods and Customer Y (international) order $2M dollars worth goods.  

why there is no difference in currency between domestic and International..

Phanikumar