PROJECTS > FINANCIALS > INVOICES & PAYMENTS
What is a credit note? Let´s see:
Credit notes are legal documents, just like invoices, that give you the important ability to cancel out an already issued invoice, either in full or in part. It is a document issued by a seller to a buyer to notify them that credit is being applied to their account.
Frank has included this new feature to complete the billing processes of the project: the credit notes. These are legal documents, just like invoices, that give you the important ability to cancel an already issued invoice, either in whole or in part.
When to issue a credit note?
Credit notes are typically used when there has been an error in an already-issued invoice, such as an incorrect amount, or when a customer wishes to change their original order. In short, credit notes can be used in any circumstances that would require the invoice to be changed and re-issued.
Remember that: A credit note is always linked to an existing invoice and it shows the negative balance of an invoice.
How create a new credit note?
Firstly The project manager generates the request for the creation of a credit note for this invoice, using the button Request Credit Note.
A credit note should include all necessary information for admin and recording purposes for both you and your customer. Here’s a list of the essentials:
- Date of credit note issue
- Credit note number
- Customer reference number
- Payment terms
- Contact details
- Reason for issuing the credit note
Click on the invoice button selector and choose New Credit Note option. You can issue a CN for the total or partial amount of the invoice.
You will see the updated Client’s account balance after creating a Credit Note on the Financials section of a Project.
Every invoice balanced by a Credit Note will show a reference with the ID and the credit note number. The same information appears in different financial reports and on the Invoices console.
Important considerations:
- The credit note creation date cannot be earlier than the current calendar month.
- An invoice can be associated with a single credit note and, in the same way, a credit note balances only one invoice.
- If an invoice has a Paid status, you cannot issue a related credit note.
- You can edit a credit note, only when the invoice is on unpaid status.
- If you delete it, the invoice amount will be balanced .
- When you cancel an invoice, the associated credit note is also revoked.
- The new credit note button is not enabled when:
- No Invoice available for this project
- The available project invoice has Paid status
- or the available invoice already has an associated credit note with it
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PROJECTS > FINANCIALS > INVOICES & PAYMENTS
What is a credit note? Let´s see:
Credit notes are legal documents, just like invoices, that give you the important ability to cancel out an already issued invoice, either in full or in part. It is a document issued by a seller to a buyer to notify them that credit is being applied to their account.
Frank has included this new feature to complete the billing processes of the project: the credit notes. These are legal documents, just like invoices, that give you the important ability to cancel an already issued invoice, either in whole or in part.
When to issue a credit note?
Credit notes are typically used when there has been an error in an already-issued invoice, such as an incorrect amount, or when a customer wishes to change their original order. In short, credit notes can be used in any circumstances that would require the invoice to be changed and re-issued.
Remember that: A credit note is always linked to an existing invoice and it shows the negative balance of an invoice.
How create a new credit note?
Firstly The project manager generates the request for the creation of a credit note for this invoice, using the button Request Credit Note.
A credit note should include all necessary information for admin and recording purposes for both you and your customer. Here’s a list of the essentials:
- Date of credit note issue
- Credit note number
- Customer reference number
- Payment terms
- Contact details
- Reason for issuing the credit note
Click on the invoice button selector and choose New Credit Note option. You can issue a CN for the total or partial amount of the invoice.
You will see the updated Client’s account balance after creating a Credit Note on the Financials section of a Project.
Every invoice balanced by a Credit Note will show a reference with the ID and the credit note number. The same information appears in different financial reports and on the Invoices console.
- The credit note creation date cannot be earlier than the current calendar month.
- An invoice can be associated with a single credit note and, in the same way, a credit note balances only one invoice.
- If an invoice has a Paid status, you cannot issue a related credit note.
- You can edit a credit note, only when the invoice is on unpaid status.
- If you delete it, the invoice amount will be balanced .
- When you cancel an invoice, the associated credit note is also revoked.
- The new credit note button is not enabled when:
- No Invoice available for this project
- The available project invoice has Paid status
- or the available invoice already has an associated credit note with it