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How to Process Accounts Receivable Credit Memos

Find out how to process a credit memo to reduce/ reverse a previous invoice/ charge.

Decide how you want to process the credit memo.

  • Contact Student Fiancial Solutions (SFS) to process the credit memos in ISIS AR by following the steps below. 

How to complete the credit memo.

  • Send an email request to SFS for a copy of the credit memo template.
  • Complete all information on the credit memo as you would do an invoice. 
  • Send 1 copy to SFS, to be keyed into ISIS AR, via e-mail or to campus mail code 0025.
  • Send 1 copy to the entity to inform them that the original amount is being reduced/reversed. 
  • Keep 1 copy for your department records.

Note: Credit memos are considered a form of cash. Be sure to appropriately secure them online or in a locked cabinet just as you would cash or check payments.

How to assign a number for your credit memo.

  • To assign a credit memo number, just place the letters "CM" (credit memo) before the original invoice number that you want to apply the credit/reversal to. 
    • Ex: If original number is AB1234, then the credit memo to apply to the original invoice will be CM1234. 
  • Your department must make sure not to duplicate credit memo numbers because they are unique identifiers. 

SFS enters the credit memo into ISIS AR.

  • SFS enters the credit memo within 5 business days.
  • After the credit memo is entered into ISIS AR, it will appear as a debit (negative), reducing the amount on the original invoice.
  • If the invoice is paid, prior to processing the credit memo, then the remaining balance of that check payment (after the credit memo is applied) will be credited to the balance of the oldest outstanding invoice on the account.
  • If the student has no other charges, the payment balance will be refunded to the student. 

You may continue to monitor activity on the account.

For more information, contact Student Financial Solutions through the UC San Diego Services & Support portal.