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basically there can be two types of credit memo credit memo which are not against any specific invoice transaction but against a customer as a whole are called on account credits in Oracle Fusion terminology and the second type is a credit memo which is specific to an invoice billing transaction is referred to as credit transaction infusion this on account credits are credits you assign to your customer accounts that are not related to specific invoice like for example if your customer remit payment of $100 for a $90 invoice you can create an on account credit for $10 and you can then apply this on account credit to another transaction the sauna count credits are the credit memo which can be applied to more than one transaction and for creating this on account credit memo transaction we need to go to the create transaction page and select the transaction class the other one is credit transaction which are against a particular specific invoice billing transaction credit transaction can be done either from the credit transaction page or searching the invoice billing transaction which you want to credit in selecting credit transaction from the actions list of value let us do both infusion system here we are on the main page of Fusion receivables which consists of info tiles in order to create an on account credit memo you need to select the create transaction task so this is the create transaction page here by default the transaction class is coming as invoice which you need to change to credit memo now the fields which are mark in star are the mandatory fields transactions source will default as manual the transaction type will now only show you the credit memo transaction types let's select regular credit memo you optionally select the customer reference number against which you are creating this credit memo transaction say rebate request select the transaction date and accounting date by default system will select the current date as the transaction date and accounting date you can also enter a salesperson name and attach any attachment if you had like a supporting document now select the bill to customer name say ABC application software so as soon as you select the bill to name here system will default the ship to name because this particular customer has only one ship to site enter the description of the transaction say you are creating a credit memo of $1000 select the quantity and unit price and system will calculate the amount for you note that the credit memo will always be in negative so once you have entered the credit memo details you can complete it by using complete button once completed system will generate the credit memo number which is eleven thousand nine hundred sixty-eight and the action list of value will be enabled also you can view the image of this credit memo which will fetch all the details of the credit memo which we have created along with a line description and the payment remittance details and special instruction if any here the logo and name of your company will appear depending on the setup made so once satisfied you can click on OK now in order to apply this credit memo you need to go to accounts receivable section under your receivables this page is just like billing also has information in infotile format and here you can select the info tile of unapplied credits which will show all the unapplied credit memos here it is showing you all the unapplied credits which are created in last four days so here is our credit memo 11968 which we have just created you can open the same by clicking on the transaction number hyperlink and from here you can click on add open receivables and search the transaction number against which you want to apply this credit memo also you can search by customer name and here it will show you all the open transactions of ABC application software along with the due dates of the transaction so depending on due date you can select that against which billing transaction you need to apply the particular credit memo here the open invoices are coming and sorted in accordance with the transaction number if you had like to sort based on the due date you can just click on the up arrow of sort ascending and system will sort the transaction for you based on the due dates based on which you can decide the application you can click on add or you can click on done so the entire credit memo amount of 1087 is now applied to the open invoice so this was about how we can create on account credit memo and applied to the same against the open invoice transaction now let us have a look as to how we can create a credit memo by crediting a transaction so let us go back to our billing we can create a credit transaction using either this credit transaction form or searching the invoice and crediting the invoice from action list of value both will open the same form so let us search the transaction select the invoice here is the invoice which we have created so system has opened the invoice eleven thousand five hundred sixty-eight which we have created in our previous session and from action list of value we can select the credit transaction which will open the credit transaction form so basically that credit transaction form can either be access from the action list of value of the invoice or from my tasks pen credit transaction form so here by default against this credit transaction the system has selected the original transaction which has been credited here unlike the on account credit memo wherein you can select multiple invoices against which you want to apply credit memo here there will be only one invoice against which this credit memo transaction will be created say you select the credit reason as late delivery due to which 20% rebate is being allowed to customer so once you enter the header information you can move down to transaction amount and select the amount which you want to credit by selecting the credit entire balance button will credit the credit memo for the entire amount of the original invoice transaction credit lines will let you credit individual lines in case there is a damaged laptop bags then you can select the particular lines of laptop bags but as in our case this is due to late delivery so you are giving entire 20% rebate to the customer on all the lines system will just give you a warning message click yes and here system has automatically derived the amount to be credited for you based on the percent which you have entered here after enter the information you can complete the transaction so this is how you can create credit memo in Oracle Fusion receivable