how do i enter supplier credit notes into the system??
when doing so quick file wants me to allocate a refund - this sint accurate as the credit is being offset against unpaid supplier invoices
the credit not is also received in a different VAT period and so needs to be entered seperately
how do we do this please?
Raise a Credit Note:
Go to the supplier invoice and click the ‘Credit Note’ button:
On the next screen, the amount of the credit note will appear automatically, you can adjust the amount and date if required, finally click ‘Save Credit’ to raise the credit note:
Credit Note: Unpaid Purchase Invoice:
If the purchase invoice was NOT paid prior to the Credit Note being raised, once you click 
the purchase invoice will be reduced by the amount of the Credit Note, a system message will appear to confirm, simply click ‘Save’ to proceed:
Credit Note: Paid Purchase Invoice:
If the purchase invoice was paid prior to the Credit Note being raised, you will be provided with the options to either ‘Refund’ or ‘Hold funds on supplier account’:
Refund:
If you have been refunded by the supplier, select the option ‘Refund Money’, you then need to select the account the refund was made to and the method:
If you’re using bank feeds or importing your statement, be careful to delete any duplicate refunds on the bank, as the transaction may have credited the bank account or been refunded by your supplier after the credit note was raised by your supplier.
Bank Tagging Refund:
You can also use bank tagging to tag the refund directly from the bank to the invoice:
Hold funds on supplier account:
If you have not been refunded by the supplier and the money paid is being held by the supplier to be used to pay current or future unpaid invoices, select the option ‘Hold funds on supplier account’, you then need to select the account the refund was made to and the method:
Allocating Funds Held on Supplier Account to Other Invoices:
The funds will now be held on the supplier account and can be used to pay other current or future outstanding invoices to the same supplier, you can do this by going to the invoice you want to update as paid and simply select ‘Log Payment’ followed by ‘Apply from credit’:
Hi Joe
This is becoming an FAQ on here, but I’m sorry, I still maintain Quickfile has a big failing here! You said:
“If the purchase invoice was paid prior to the Credit Note being raised, you will be provided with the option to ‘Hold funds on supplier account’, select this option:”
But in my experience the minority case is that the credit note arises after the invoice is paid. More usually an invoice/invoices arrive, I query it/them, and a credit note is raised. I then pay the corrected total amount maybe 3 weeks later. So I want the credit on the account at the time of logging the credit note.
Why can we not just have the option whenever we raise a credit note?
The example @Joe provided is against a PAID invoice which is not exactly what the OP asked. You can credit note an UNPAID invoice in exactly the way @Healthpay describes. Try it yourself… Create the invoice, now from the preview screen click the “credit note” button, when saving a credit note against an unpaid invoice it will reduce the balance payable.
@joe you should modify your answer here.
Thank you Glenn, I should have spotted that! However, what happens if the credit note covers more than one invoice, and may be a greater value than any one invoice?
Or how about the supplier who issues a loyalty discount credit note when there are no outstanding invoices to credit?
I still maintain we need a way to apply a credit note to an account independent of any invoice.
Then they would be entered individually for each invoice, we’re talking about unpaid invoices now so you don’t have the problem of reconciling against the bank. I really don’t see any evidence of this being a common problem…also bear in mind that unless you are on accrual VAT accounting you can resolve any of these issues by just modifying the original purchase invoice, or in the case of a full CN just deleting it.
@tonyc, @Glenn, @Healthpay, I have updated my answer to cover both scenarios.
That feels like doing the work the software should do for me. What I want is to receive a credit note, log it against the supplier account using the Receipt Hub, and then apply it against invoices - either then or later (which your answer didn’t address)
thanks for your replies
I have to agree with health pay in that it feels like we are doing the work and not the software
we need to allocate the credit against future invoices
the answers you suggest dont do this and the software wont match the paper trail that we have
Sorry I think you are both discussing slightly different credit note scenarios @tonyc what you’re doing here is generating a credit note from an invoice that has already been paid and applying it to pay down a future invoice. @Healthpay the scenario you discuss relates to applying a credit note to reduce the outstanding balance on an unpaid invoice.
Both these scenarios are supported and explained in the post that @joe made (since updated). @tonyc the relevant area is headed up Hold funds on supplier account. The post then explains how to apply that credit to pay down future invoices.
@Healthpay the software requires that CN’s are strictly bound to invoices on creation. Unfortunately they aren’t as flexible as payments in the sense that they can’t be held on account. This is pretty much baked into the software and would require extensive overhaul to change, I just don’t think that having a single CN that spans multiple unpaid invoices is a common scenario worth spending weeks to support. I’ve certainly never heard this been raised as an issue on the forum previously, but if you like you can post a feature request and if others add their vote we’re happy to revisit.
Being able to link CNs from the Receipt Hub directly to existing invoices is a slightly different matter, we don’t support this yet but we may introduce this later. I can certainly see this being useful.
This topic was automatically closed after 7 days. New replies are no longer allowed.
