• Entering credit notes
• Adjusting WIP for write-offs on final invoices
• Creating refunds
• Modifying the reconciliation of receipts or credit notes
• Multiple Payment Example

Creating refunds

Use this procedure when a credit note is raised to give the customer a reduction on their fee after the customer has paid his invoice. A cash refund is issued.

1. On the Process menu, click Credit Notes.
2. In the Credit No box, enter a number for the credit note (e.g., CN001).
3. Select the option Create Refund.
4. In the Group/Client No box, type or select the client number.
5. Enter the date of the credit note.
6. If applicable, enter a reference for the credit note of up to 7 characters.
7. In the Billing format box, select the appropriate billing code used in the generation of the credit note.
8. In the Amount box, enter the amount of the credit note.
9. Click Post to GL to post the amount of the credit note to the general ledger.
10. Click Refund to apply the credit note to the applicable accounts.

Example:

An adjustment of $500.00 to the client’s account is required after the client has paid his invoice.

A credit note for 570.00, the amount including taxes is created.

Then an adjustment entry for the refund 570.00 is created

The refund's effect on reports