Process Credit Memos

This guide will cover:

• Processing Non-PO credit memos. This process is completed by departmental WyoCloud users as described in the steps below.  (Consult with your business office for details on the correct people to process invoices and credit memos.)

Credit memos associated with purchase orders are processed by Payment Services. Credit memos for non-catalog purchase orders should be submitted by email to paymentservices@uwyo.edu. Credit memos for catalog purchase orders are usually uploaded to WyoCloud directly by the supplier. Information on receipt corrections and change orders for credited purchase orders can be found in these Quick Reference Guides:

-Correcting a Receipt

-Edit Purchase Orders (Change Orders)

Important Information

• All ready-to-pay invoices and credit memos to the same supplier and same supplier site are included in the same payment. These invoices and credits are listed on the check stub or ACH remittance email.
• Credit memos must use the same supplier site as the invoices to be included in the payment. The correct remittance address is often not listed on credit memos. Please refer to the invoice documents for that address.
• Each individual invoice and credit memo is linked to a budget or multiple budgets in WyoCloud. The total payment might include multiple accounts and budgets.
• Credit memos can remain unpaid in WyoCloud indefinitely if no invoice payments larger than the credit amounts are ready to pay. A new report is available to search for all unpaid invoices and credit memos by org code:
  • Unpaid Invoices and Credits Report

• After running this report, select the appropriate option below:
  • Option 1:  Credit memos from a supplier paid through WyoCloud on a regular basis   
    • These credit memos can be submitted in WyoCloud if invoice payments are expected to be processed within the next two weeks.  It is still recommended to check this report periodically. 
      • Unpaid Invoices and Credits Report
  • Option 2:  Credit memos from a supplier rarely paid through WyoCloud
    • 1. If an upcoming invoice is expected within 60 days that will more than cover the amount of the credit memo, please wait to submit the invoice(s) and credit memo(s) at the same time.
    • 2. If no future invoice is expected within 60 days, please request a refund check from the supplier and do NOT process the credit memo in WyoCloud.
    • 3. If the supplier will not refund the credit balance in a reasonable timeframe, please hold these credit memos until they can be resolved.
      • Do not process these credit memos in WyoCloud.
      • Contact paymentservices@uwyo.edu about these situations for further guidance.
    • 4. If and when a refund check is received for a credit balance, any unpaid invoices and credit memos in WyoCloud that are included in that refund check must be canceled to avoid double payment. 
      • IMPORTANT:  Please search for all of these invoices and credit memos in the Payables – Invoices module. 
        • Department users should cancel any unpaid Non-PO invoices and credit memos included in the refund check.
        • Please contact Payment Services to cancel any invoices and credit memos related to purchase orders.  Finally closed PO’s will need to be reopened by Procurement before the invoices and credit memos can be canceled.

Step One

• Upon signing in, this home page will display. Click on the Navigator button (the three horizontal lines) in the top left corner

• First click on Payables to expand, then click on Invoices.

Step Two

Navigate to the Create Invoice page and enter information from the paper credit memo

• On the Invoices page, click on Task List and select Create Invoice:

• On the Create Invoice page, enter the following information in the Invoice Header section and click Save:

  • Business Unit – UWYO.

  • Supplier – Enter the supplier name. You may also Search for a supplier.

  • Supplier Site – Select the appropriate supplier site.

  • Number – Enter the credit memo number provided by the supplier.

  • Type – Select credit memo from the drop-down.  A warning will display, click ok.

  • Amount – This field must be entered as a negative amount, including tax, from the paper document.

  • Date – Auto-populated with current date, enter the credit memo date.

  • Pay Terms – Select Immediate from the drop-down.

  • Terms Date – Auto-populates depending on what has been entered into the Date field. If required, change to the credit memo date.

  • Description - Enter a description of the credit memo. 

  • Attachment - Click the plus sign to attach a copy of the credit memo from the supplier.

• Click on the arrow next to Lines to expand and enter the following required information in the Lines section (other fields should autopopulate):

  • Amount: This field must be entered as a negative amount

  • Distribution Combination: Chart string the credit should be applied to.

  • Project Number/Task Number/Expenditure Type/Expenditure Organization: If applicable.

Step Three

Validate and submit the credit memo for approval

• On the Create Invoice page, click the Invoice Actions drop down and click Validate.

• Verify that the Validation Status in the Invoice Summary has changed to Validated or take the appropriate actions to remediate system holds.

• Click on the Invoice Actions drop down then Approval > Initiate. 

• Verify Approval has been initiated by clicking on Validated.

• Click Save and Close.

Check the Status of Your Credit Memo

Locating a submitted credit memo and reviewing its status

• Use the Navigator to first click on Payables to expand, then click on Invoices.

• Open the Task menu on the right side of the page, click on Task List then click Manage Invoices.

• On the Manage Invoices page you must enter at least one of the follow fields marked with a ** to search for the invoice.

  • Invoice Number: Enter the invoice number from the paper invoice.

  • Invoice Date: Enter invoice date in the in MM/DD/YY format or click the Calendar icon and choose a date on the pop-up calendar.

  • Supplier or Party: Enter the supplier or party. You may also Search for a supplier or party.

  • Supplier Number: Enter the supplier number.

• Click on the Invoice Number to open the invoice

• Once the invoice opens, you can click on Invoice Amount or Validated or click on the tabs in the middle for additional information: Lines, Holds & Approvals, Payments or Installments

• View the approval and notification history by clicking on Holds and Approvals

• This will display the workflow of approvals