This article covers the differences in the legacy payment run and the new payment run that displays credit memos. The new payment run will be enabled for all customers in 2025.
When the new payment run is enabled, credit memos are pulled out of the Credits and Discounts sidesheet and are displayed in the invoices table allowing users to apply credit memos in the invoices table. An additional column, ‘transaction type’ is also added to the invoices table.
The new payment run can be enabled in the Miscellaneous tab of System Preferences.
Updates to the Payment Run
Credit Memos in the Invoices Table
New Column - Transaction Type
Credit Memos Removed From Sidesheet
Credit memos have been removed from the sidesheet view, but any associated discount details remain accessible within the sidesheet for reference.
Credit Memo Application
When payments are created, selected credit memos are applied to vendor invoices in the following sequence:
Invoices with the earliest due date within the same legal entity as the bank account.
If multiple invoices share the same due date, the invoice with the earliest creation date is prioritized.
Invoices with the earliest due date in a different legal entity follow.
If multiple invoices in a different legal entities share the same due date, the invoice with the earliest creation date is prioritized.
When multiple credit memos are included, each is applied in full before the next, in order of credit memo transaction date, from oldest to newest.