STANDARD MEMO LINES

STANDARD MEMO LINES:

Standard memo lines are lines that you assign to a transaction when the item is not an inventory item (for example, 'Consulting Services'). You can assign memo lines to debit memos, on-account credits, debit memo reversals, chargebacks, commitments, and invoices. Receivables display your standard memo lines as list of values choices during credit memo entry in the Credit Transactions window and during invoice entry in the Lines window. When you create charge backs and debit memo reversals, you can either use the standard line that Receivables provides or enter your own. You can create an unlimited number of standard memo lines.
If Auto Accounting depends on standard line items, Receivables uses the revenue account that you enter here along with your Auto Accounting setup to determine the default revenue, freight, Auto Invoice Clearing, Tax, Unbilled Receivable, Unearned Revenue, and Receivable accounts for invoices with this line item.
Warning: When you enter a standard memo line in the Lines window, place the cursor in the Description field and then use the list of values to select a memo line. If Auto Accounting is based on Standard Lines and you type or copy the memo line information, Receivables will not generate the proper accounting entries for this line when you save.