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The credit note
Credit notes are often used to reduce accounts receivable.
Original invoicing NOT affected
A new Credit Note transaction is created in the financial summary
It uses its own number
A new accounting transaction is created affecting the relevant general ledger accounts (according to the office's accounting integration accounts) depending on the invoice to which the credit note is applied.
Credit note on fees
Credit note on disbursements
Taxes
Transaction date can be user-defined
Work in progress is NOT reactivated in the matter.
A credit note document is generated in the same way as an invoice. It is automatically saved in the matter.
Cancelling an invoice
Cancellation is often used when an invoice has to be redone because it contains errors.
The original invoicing is affected.
It is completely cancelled and a -X is added to the transaction number
The accounting transaction linked to the invoice is still visible in the GL, but no longer has any accounting assignments (the entry is empty).
It also displays a -X and a cancellation note is added
This operation always affects the system on the original invoice date.
Work in progress IS reactivated in the matter and can be invoiced again.
No document is generated when an invoice is cancelled. The original invoice .pdf document is annotated with the same -X as the transactions.
Invoice reversal
Reversal is often used when an invoice has to be redone because it contains errors, but for reasons of accounting limitations cannot be cancelled directly.
The original invoice is NOT affected
A new negative invoice reversal transaction is created in the financial summary
It uses the same number as the original invoice with -R
A new equivalent accounting transaction is created, affecting the same general ledger accounts as the original invoice, but with the opposite accounting impact.
It also displays a -R
This operation is always performed on the current date
Work in progress IS reactivated in the matter and can be invoiced again.
No document is generated when an invoice is reversed. The original invoice .pdf document is annotated with the same -R as the transactions.