Posting a credit in Alma
Overview
There are multiple steps for managing credits from vendors:
1. Keep an eye out for credits.
2. Post the credit in Alma.
3. Send the credit to URI Accounting or Library Admin for their use.
4. Save a copy of the credit memo and record the credit on the credit spreadsheet.
Note: Most (but not all) credits are for continuing resources, as opposed to one-time purchases.
This procedure covers steps 1, 2, and 4 above. For working with URI Accounting or Library Admin to apply the credit, see the procedure "URI Accounting processes for credit memos."
1. Keep an eye out for credits
Keep an eye out for credits by monitoring monthly statements from major vendors, e.g. EBSCO, GOBI, Gale.
If a credit is listed that has not been received, retrieve it from the vendor's system or contact the vendor for a copy.
2. Post the credit in Alma
The purpose of posting a credit in Alma is twofold:
1. To have our library materials accounts for the current fiscal year in Alma be as accurate as possible.
2. To accurately record at the level of the individual purchase how much we paid for something.
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Note: If a POL in Alma is closed, it will need to be re-opened in order to post a credit. Reopen the POL.
If the POL is a one-time POL, it will re-close automatically after the credit memo is posted.
If the POL is a continuing POL, it will need to be closed manually after the credit memo is posted.
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This procedure is basically the same as posting an invoice, except the amounts are negative.
Acquisitions => Receiving and Invoicing => Create Invoice
Invoice Creation: select Manually.
Handle Receiving: leave unchecked.
Click Next.
Enter Invoice Number, Invoice Date, Total Amount (negative number), Vendor, and Vendor Account.
Note: If the credit memo has its own number, use that. If it does not, either use the number of the original invoice, with -CR on the end (e.g. 12345-CR) OR use today's date with -CR on the end (e.g. 041915-CR).
Payment method: Accounting Department
If posting a Strand invoice, select Prepayment.
If posting an Amazon invoice, select Credit Card.
Note: Because we are only using Alma to track payments made through PeopleSoft, not to actually pay invoices, these categories are for statistical purposes only.
Additional Charges: check Use Pro Rata
Enter any shipping charges, service charges ("Overhead amount"), or discounts that apply to the invoice as a whole (i.e. not to line items)
VAT section [ignore]
Prepaid: uncheck
Save and Create Invoice Lines.
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Click Add Invoice Line
Type: Other
Click on the magnifying glass next to PO Line number to search for PO Line.
On Select PO Line screen, filter to All. Use the Find box to search for your PO Line.
Select the PO Line.
Note: If the credit does not apply to a particular PO Line, you don't have to enter a PO Line; you can just enter a Fund.
Fully Invoiced: Yes [unless paying only part of cost and will be invoiced further later or if a second credit needs to be posted to the same POL, then No]
Note: The "Fully Invoiced" option only shows up for one time PO Lines.
Enter amount of credit as a negative number under Price.
Click on Redistribute Lines at the bottom of the window.
Note that if there are shipping and other charges on the invoice being pro-rated against each item, the the amount charged to the fund at the bottom of the screen will be less than the Price in the case of a credit.
Enter 1st reporting code (if not entered at time of order)
If applicable, enter Note describing credit.
Click Add then enter the next PO Line number.
When you are done, click Add and Close.
If this is a subscription invoice:
Check subscription date overlap: uncheck
Enter the Subscription from date and Subscription to date to which the credit applies and Additional Information if needed (e.g. "credit").
Release remaining encumbrance: uncheck
Add a Note if needed [this can repeat information in Additional Information].
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Take a look at the invoice page to make sure everything is correct. If you need to change anything on a PO Line, click on Actions => Edit.
Press Save and Continue.
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Do a Quick Search for Invoices and enter the invoice number or other search criteria. The invoice Status should be Closed (unless the original item has not yet been received or activated in which case it will be In Review).
Click on the invoice number.
Click on the Invoice Lines tab.
Click on the name of a fund in the Funds column for a PO Line that received a credit.
Click on the Transactions tab of the fund record.
You should see the credit posted.
Click Cancel to return to the Invoice Details page.
Click a link to a PO Line number in the PO Line # column.
Click on the Invoice Lines tab of the PO Line.
You should see the credit posted.
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If for some reason it does not make sense to post the credit in Alma, go to the POL and make a note in the notes tab.
For example, "5/13/2017, CM 0018077: EBSCO credited $7744.02 due to rate adjustment/overpayment for invoice 7819374 for v.61, subscription period 1/1/2017-12/31/2017."
However, it is always preferable to post the credit in Alma when possible.
4. Save a copy of the credit memo and record the credit on the credit spreadsheet.
Save a digital copy of the credit memo in in Google Shared Drive "Acquisitions Invoices" under the appropriate Fiscal Year and Vendor.
Name the file with file format Vendor_CREDIT_#####.pdf, e.g. EBSCO_CREDIT_2003213.pdf.
Enter the credit memo into the shared Google Drive spreadsheet for recording the current year's credit memos.
In the spreadsheet, note the date posted in Alma.
Also note the date forwarded to URI Accounting (or Library Admin).