Do we still use the term Debit Memo?
No, the term debit memo is a historical term no longer used. At one point, a debit memo form was used as a source document for both Internal Revenues/Expense Recoveries and Journal Entries.
These transactions are now separate processes, and we use the Journal Entry form found here:
For more information on these transactions, please refer to the FAST Tip (Sept 2014, Volume 1, Number 9).