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Credit Note Held on Client Account

I’m sure you used to be able to create a credit note and not pay it back straight away. There was an option to hold on account. I’ve even found the option in the knowledgebase:

The main client and a sub-contractor both paid same invoice and they would like to keep as credit to use in future.

Am I missing something or has the option to hold been removed?

Hi @moretontom,

No, the option hasn’t been removed. It should still be there to hold the credit on the account, the only thing is you may need to create a corresponding bank entry. So if you have a holding bank account set up for credits this would be where you’d process the ‘refund’.

Hope this helps

Hi Beth,

The corresponding bank entry is already there. Just after creating a credit note the next window used to give you the option (via a radio checkbox - as shown on the knowledgebase page) but it’s not there any more? Only options are to pay back straight away.

Hi @moretontom

Are you creating the credit note from a paid invoice, or are you doing it another way?

Hi @QFMathew

Another way I’m afraid. I’m trying to create a fresh credit note to tag to a duplicate payment in my bank statement. The original invoice has been payed by the parent company so that’s all squared/tagged up. The sub-contractor (different client in QF) then also paid but would like to keep the credit for the next invoice. Make sense?

Hi @moretontom

When you create a purchase with a negative balance it has to be paid to a bank account (as if you’re refunding it) to balance the entries.

However, I understand what you’re trying to do. What I think would be a better approach is to just tag it as a pre-payment. From the “Tag Me” option, if you select “Payment from Client” and use the option “Pay down multiple invoice or hold on account”, this will allow you to just allocate it on the client’s account.

The credit note itself is more of a refund rather than actual credit on account.

Hope that makes sense?

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Makes perfect sense! Didn’t know you could do it like that.

I think the credit note system has changed slightly from before then? It looks different to the last time I made one and to the knowledgebase I found.

Big thanks @QFMathew

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No problem!

The system is the same, with the exception that the guide does it from starting with a purchase invoice. Because the invoice itself is the balancing entry, the payment can be allocated to a client/supplier account, whereas starting fresh with a negative invoice has to be to a bank account.

Hope that make sense?

But any problems going forward, please don’t hesitate to let us know :slight_smile:

Just putting this on here for future reference (for me and others), I’d completely missed that the button on the right said that!! Thanks again @QFMathew

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