Mass creation of AP credit memos to write off payables open transactions

Hello,

We have a requirement for a client where Our client migrated to a new ERP from EBS as part of merger. The open AP transactions were loaded in the new ERP to be paid out from there. We need to clear those open transactions using a payment or write-off process where accounting will post against AP-Trade or AP I/C Trade.

Aim:

1. All AP will show closed.
2. The net effect of accounting entries is zero.
3. No payments are issued.

We are suggested to create Credit Memos for those open transactions and then pay the original invoice plus the CM which is a zero payment.