Management of Credit and Debit Memos
The Invoice Settlement feature is generally available as of Zuora Billing Release 296 (March 2021). This feature includes Unapplied Payments, Credit and Debit Memos, and Invoice Item Settlement. If you want to have access to the feature, see Invoice Settlement Enablement and Checklist Guide for more information. After Invoice Settlement is enabled, the Invoice Item Adjustment feature will be deprecated for your tenant.
Zuora's credit and debit memo capability simplifies the process of correcting, adjusting, and managing balances on accounts and open receivables, such as invoices and debit memos. You can manage memos with the following operations from the Zuora UI and REST API:
- Create Credit and Debit Memos
- Edit Credit and Debit Memos
- Post Credit and Debit Memos
- Unpost Credit and Debit Memos
- Apply Credit Memos to Invoices and Debit Memos
- Unapply Credit Memos from Invoices and Debit Memos
- Download or Email Memo Documents
- Regenerate Memo PDFs
- Refund Credit Memos
- View Information of Credit and Debit Memos
- Prefix and Numbering Configuration for Billing Documents
- Cancel Credit and Debit Memos
- Delete Credit and Debit Memos
- Create taxation items for credit memos and debit memos (REST API only)
Also, you can manage credit memo and debit memo custom fields from the Zuora UI and REST API.
If the Exclusive Tax No Rounding feature is enabled, credit memos and debit memos might fail to be posted or applied due to the default decimal precision of currencies. Zuora recommends that you have this feature disabled if you have the Invoice Settlement feature enabled.