Raise a Credit Memo Using the Corrective Purchase Credit Memo Action 

Why raise a credit memo using the corrective purchase credit memo? 

You may need to raise a corrective purchase credit memo when: 

1. You’ve been overcharged or invoiced for incorrect quantities; 
2. You’ve posted the wrong price on the purchase invoice; 
3. You’ve posted a purchase invoice, but the vendor has sent a credit for part or all of it; 
4. You’ve posted the invoice but need to reduce the amount. 

How to raise a credit memo using the Corrective Purchase Credit Memo action? 

1. From the Wiise landing page, select Vendors. 
2. Select the relevant Vendor from the Vendor list. 
3. In the Vendor Card, select Vendor. Then, select Ledger Entries. 
   
4. The Vendor Ledger Entries page displays all posted vendor transactions. 
5. Filter the Document Type to Invoice.  
   
6. Select the posted purchase invoice that needs to be corrected. 
7. Then, select Home. Select Correct. From the drop-down menu, select Create Corrective Credit Memo. 
   
8. A new Purchase Credit Memo is created. 
   
   Note: As the credit memo is for the original full amount, you’ll need to adjust the quantity, unit cost, or amount as needed to reflect the correct credit. When you’re ready, post the purchase credit memo. 
   
9. A message confirms that the credit memo is posted. Select Yes to open the posted credit memo or No to stay on the page.  
10. The Posted Purchase Credit Memo is created.  
11. You’ve raised a corrective purchase credit memo.  

What’s next? 

Besides the Create Corrective Credit Memo action, you can also use the Cancel or Correct options to reverse or modify a posted purchase invoice. 

Need more help? 
Reach out to support@wiise.com if you have any questions or need assistance.