A Credit Note for the full amount of an invoice is created automatically when the invoice is written off in Astute. If a negative invoice is created, this will also automatically create a credit note.
If a payment has already been applied to an invoice when it's written off, a Credit Note will also be created for the value of the payment. This can then be applied to future invoices or recorded as a refund.
Credits and Refunds
Credit notes can be either applied to an outstanding invoice or refunded directly to a customer. The Invoicing > Credit & Refunds menu includes functions to facilitate these processes.
Displays a list of overpayments saved as credit notes, filtered by Customer
Credit notes are identified by a CN prefix in the invoice number (eg CN-1, CN-2)
Credit notes can be applied to an invoice or refunded from this screen
|Credit an Invoice||
You can select a Customer from the list of outstanding invoices to make a credit against. This will be picked up in an export.
Credit amounts can be refunded to Customers rather than crediting an invoice. This will be picked up in an export.
The refund must be processed in your accounting software.
Notes can be entered about the refund.
|Credit Application History||
Displays credit history and the invoices that credits have been applied against.
You can delete the application of a credit to an invoice. This will revert the credit to current and unallocated.
Apply a Credit Note
To apply a credit note to an invoice:
- Go to Invoicing > Credit an Invoice.
Select the Customer, select the Credit and enter a Credit Date.
Select the invoice(s) to apply the credit note against.
- Click Apply Credit.
You can also apply a credit directly in an individual invoice by clicking ‘Apply credit’ in the banner that appears in the top left of the invoice.
Refund a Credit
Refunding a credit will mark it as refunded, however, it’s important to note that this process isn’t linked to an entity’s bank account. You will need to manually transfer the actual refund amount outside of Astute.
To refund a credit:
Go to Invoicing > Refund Credit.
Select the Customer and the Credit.
Adjust the Refund Amount, if required.
Set the Refund Date and select the account that you will send the refund payment from.
- Click Refund.