Credit Notes

Use the Credit notes screen to record the receipt of credit notes from suppliers. You can then apply these against expenditure items.

See also Expenditure.

A supplier's credit note can include multiple lines if required. You can choose to post in a future period if required. You can also choose to batch the transaction so that the data can be entered without immediately updating the budget, bank account and analysis code records.

To post a credit note

1. From the Transactions menu choose Expenditure and click the Credit Notes tab.

2. Under the Credit note header, choose the credit note Supplier, by typing in their name or code.
You can enter the first few characters and use the magnifying glass to select the required account from the search results.

3. If this supplier has an alternative payee, a Use alt. payee field is displayed. If you want to select the alternative payee, choose Yes from the drop-down list.

4. By default today's Date is displayed. If required you can edit this entry to apply a different date to the credit note.

5. By default this credit note will be posted in the current Period. If you want to choose a future period or to batch this transaction, click Options  and then:

• If you want to post it in a future period in this current year or the next year, choose the Future period radio button. 
  This makes the Period field editable and adds a Year field with the default value Current. 
  Enter the required Period and Year values for this transaction.
• If you want to batch this transaction, choose the Batch transaction radio button. This adds a Batch Reference field. 
  Enter a Batch Reference for this transaction if required.

6. Enter the Gross total for this credit note.
If there are multiple lines to the credit note, the gross total will be the sum of them.

7. Enter a credit note Reference.
If you are applying the credit note against an expenditure item, make sure that this reference matches the expenditure item reference. If you then group the reconciliation screen by Reference, the net amount will be displayed as a single value, rather than as separate entries for each transaction. This makes it easier to reconcile the bank statement.

8. From the Bank account drop-down list, choose the account from which this credit note will be debited.

9. Under Line details, enter budget and other information for the first credit note line:

• Enter the Analysis for this credit note, by typing in the code.
  You can enter the first few characters and use the magnifying glass to select the required analysis from the search results.
• In the Detail field, enter a note about this credit note line.
• Set the Budget account for this credit note, by typing in the budget code.
  You can enter a partial code and use the magnifying glass to select the required account from the search results.
• Enter the Gross amount for this credit note, and choose the VAT code from the drop-down list.
  The VAT and Nett amounts are calculated automatically. If they are incorrect you can overtype either entry.
• Enter the Credit note no. and choose an S16 option (No or Yes) as applicable.
• To choose a Funding Stream for this credit note if applicable, click the magnifying glass and choose from the drop-down list.
• To choose a Cost Centre for this credit note if applicable, click the magnifying glass and choose from the drop-down list.

10. Click Save line to save the details entered in step 8. (If instead you want to cancel the entry, click Clear line.) 
The saved entry is now listed under Credit note lines, where the £ Totals are updated.

11. If there are more lines to add for this credit note, repeat steps 8-9 as required.

12. You may need to make changes to a credit note line that has already been saved - for example, to make a correction to the Gross amount. If you need to do this:

A. Select the credit note line that you want to change.

B. Under Line details, edit the data fields as required.

C. Click Save changes.

It is also possible to delete a selected credit note line, by clicking the Delete icon.

13. You can add files to this order by clicking the paperclip in the top right-hand corner of the order. This will open up a window where you can add files, including emails. Either drag and drop them onto the screen or use the Choose File option to browse to the file to attach. Click Close to finish.

14. When you have finished, and the sum of the line totals (including VAT if applicable) equals the Gross total, click Post.

15. If you chose to batch the credit note transaction (see step 5) a confirmation pop-up is displayed; click Batch to confirm.

A green message bar confirms that the posting was successful. 

At any time you can view all the bank account balances, by clicking the green £ side tab at the right.