A/P Credit memo

[Unregistered]

We have a two year old credit memo on one vendor's account. The charges with this vendor are less than the credit amount.
Question #1-Since only two years will remain on Peachtree will we lose this credit memo? I would hope not as it would really mess things up.
Question #2-Can we apply a portion of the credit memo to the two invoices on this vendor's account or would the entire amount of the credit memo have to be used?
Question #3-Will a check be issued with a 00 amount?
Question #4-Can it be done without a check being issued?
Question #5-Will the balance of the credit memo remain on the vendor's account for use at a later date?

[bluegal]

I'm not sure what happens to the transaction after 2 years, maybe someone else does.
If it's going to cause problems, you could:
1. Enter an invoice to offset the old credit memo, and then
2. Re-enter the credit memo with a more current date and somewhere note the original date (in the new credit memo number perhaps.)
3.Then select the original credit memo and the offsetting invoice for payment to get rid of them (yes you can issue a check for 0.00, just print it on blank paper and use a different reference number for the check number). After that all that's left on the vendor's account is the credit memo with the newer date, which you can use part or all of against the vendor account in the future.

[riscniaga]

answers to your questions:

a.1. no, as long as the credit memo has any balance, you will not lose it after the two active years.
a.2. yes, you can apply a portion of the credit memo to the two invoices
a.3. yes, a check will be issued for 0.00
a.4. yes, you can opt not to 'print' the cheque, use the credit memo number as your reference, and post the transaction without choosing to print it.
a.5. yes, the balance of the credit memo is available for later use.