How to Apply a Credit Memo when Receiving Payment

This guide shows how to apply credits directly while recording a received payment so you don’t have to post separate adjustments later. It walks you through opening the Receive Payment screen, choosing the correct company/property and tenant, selecting invoices, and applying full or partial credit memos to reduce the outstanding balance. It also explains how to change the entity type if you selected the wrong payer.

15 steps

How to Access Receive Payment Screen

From the navigation menu, select **Accounting** > **Banking** > **Receive Payment**.

Receive Payment Overview

Receive Payment Screen Overview

How to Apply Credit when Receiving Payment

Select **New Receive Payment**.

Select the **Company/Property** field and choose the preferred company/property from the dropdown.

Select the preferred tenant from the **Property/Tenant dropdown**. If you need to change the entity type, see steps 6-7. If you do **not** need to change the entity type, skip to step 8.

Select the **Property/Tenant icon**.

Choose the **entity type** from the radial menu. *For example, if you want to pay a property, select **Properties**.*

Select the **Reference Number field** > Enter the **Reference Number**. **NOTE: The reference number is required to save the received payment.**

Select **the checkbox** for the invoice you'd like to apply the credit to > Double-click the **credit memo** field.

Select **the checkbox** for the credit you want to apply. Select the **Amount to Apply** field > Enter the credit amount to apply. \ *You can apply a full or partial credit amount.*\ \ Select **Close** to return to the payment form.

Double-click the **payment** field > Enter the **payment amount** > Select **Save**.

Select the **Entered Amount** field > Enter the **amount applied**. **NOTE: THE ENTERED AMOUNT AND AMOUNT APPLIED MUST BE EQUAL.**

Select **Save.** If you are ready to deposit the received payment, select **Save & Deposit.** See How to Add a New Deposit.

Confirm Applied Credit Memo

From the navigation menu, select **Credit Memos.**

Locate the **credit memo** you just **applied** > The **status box** will be checked.

Related tutorial(s): How to Add a New Deposit[How to Adjust/Remove a Credit Memo from a Deposited Payment](https://support.raamp.com/wiki/204)\ How to Create a New Credit Memo