We deal with many big retailers and many invoices get paid on a single remittance. The big retailers often take blanket debit memo deductions off the check (rebates, Advertising, Shipping pick-ups etc.). While they don’t pertain to any specific invoice. In the customer’s estimation the invoice is paid. We don’t want to send them a statement showing the invoice as open. But on the same token we need to make sure the credit memo is approved in the proper channels.
How can we close the invoice so that it doesn’t show on the aging yet keep the credit memo under review. How we did this in the old system is a negative cash transaction leaving an “open” item in the books with a debit memo.