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Memo Invoices
One of the
most powerful features of Accounts Receivable is the
ability to record Memo Invoices. A Memo Invoice is
an entry that is posted to a customer record within
Accounts Receivable, but does not post as an actual
entry to the General Ledger.
Memo
Invoices are useful for recording expected future
cash receipts which are not yet obligated, including
pledges, expected contributions or estimated future
receipts related to a specific event such as
voluntary membership fees.
Memo
Invoices may be selected to appear on a number of
Accounts Receivable reports, including agings by
customer, to assist in accurate cash forecasting of
expected receipts.
A Memo
Invoice may be converted to a standard invoice at
any time, at which point both the customer record is
updated to reflect the actual invoice, and the
appropriate entries are made to record revenue to
the General Ledger.
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