New Functionality: Credit Memo Application

AASIS Announcements

Posted Date: 12/02/2019

Effective January 1, 2020, AASIS will implement new functionality designed to reduce the number of vendor overpayments caused by unapplied credit memos. Please prepare for this business process change by carefully reading this announcement and reviewing the credit memo tutorial referenced below.

The new functionality includes two (2) new payment blocks and a new business process for managing the application of credit memos (see below).

Any invoices that can be used to offset a credit memo will not be allowed to pay until the credit memo is applied or designated as pending a refund.

NEW: Payment Block W – Waiting on Refund

Payment Block W blocks any posted or parked credit memos prior to receiving the expected refund. Credit memos with Payment Block W are ignored by the new functionality.

NEW: Payment Block C – Unresolved Credit Memo

Payment Block C blocks all posted and parked Accounts Payable (AP) document types when there is any credit memo without a valid invoice reference document number and/or matching budget quad. If a posted or parked document already has a Payment Block A, the new functionality overrides it and adds Payment Block C to the document.

NEW: Daily Credit Memo Application Business Process

The new business process uses regularly scheduled program runs throughout the workday hours to apply Payment Block C to AP documents. The program sends email notifications to agency personnel to initiate document review and credit memo application to an appropriate invoice.

NEW TUTORIAL: Daily Credit Memo Application Process

A new tutorial Daily Credit Memo Management has been posted that contains important information about this new functionality. To help prepare for this new process, please take time to review it now.

Additional Job Aids

The following job aids provide additional assistance for using transactional tools in the management of credit memo application.

ZFI_PARKHELD_RPT - Parked Documents and Held MIROs Report

ZOPENITEMAP - AP Open Items Report with Added Functionality

FBL1N - Vendor Line Item Report: Payment Block Removal