How to set up 'Credit Reasons' under 'Option sets'?

Step1: Go to Settings -> Options Sets-> Select Invoice entity.

Step2: Click on 'Add New' button on the invoice entity screen

Step3: Enter 'Option Label' on the option set screen and click on save or save & close. It will create an option.

Here are the sample credit reasons:

1. Billed as Quoted but needs corrected

2. Billing Error

3. Customer Markdown

4. Inaccurate Cancellation Information

5. Incorrect Account

6. Prepay Customer Over-payment

7. Remove Sales Tax

8. Rentals not closed timely

9. Retainage

10. Revise format for customer

11. Validation error

Credit Reasons: All the invoice option set values are reflected under Invoices -> Invoice Processes ->Create Credit/Debit Memo -> Credit Reason Drop down.