Create a Costing Credit Note

Moveware includes a feature to create and apply Credit Notes to Invoices linked to Cost Options.  This allows Credit Notes and Cost Options with negative values to be created in the Costing tab of the Jobs module.

If the “Automatically Apply Credit Note to Invoice” parameter is set to Y, Credit Notes are automatically applied when posted.  Credit Notes raised against Invoices are applied automatically in the same way receipts are applied to an invoice.

When creating Credit Notes for foreign currency amounts,  if the exchange rate on the Cost Option Invoice and Credit Note are different, the Credit Note must be raised manually.

A Credit Note with a larger amount than an outstanding invoice is assigned an invoice number. It may be posted to the Customers Ledger but cannot be posted to the General Ledger.

Creating a Credit Note

Credit Notes can be created and applied to Cost Option Invoices once the correct system parameters are configured. A Credit Note can only be created for Cost Options with a posted Invoice.

To set up system parameters:

1. Navigate to Administration > System Setup > System Parameters in the main menu.

2. Navigate to the Job Other tab.

3. In the Costing section set the Use Credit Note for Costing parameter to Y.

4. Navigate to the Customers tab.

5. In the Receipting section set the Automatically Apply Credit Note to Invoice parameter to Y.

6. Click Save and Exit.

To create a Credit Note:

1. Navigate to the Jobs Management module and select the required job in the Search tab.

2. Navigate to the Costing tab and select the required Cost Option. The option must be associated with a posted Invoice.

3. Click the Create Credit Invoice icon.

4. Click Yes in the popup window to confirm creating the Credit Note.

5. A credit note (with negative amount) corresponding to the cost option is created. For example, a Credit Note 01C with amount -$500 is created for Cost Option 01 with amount $500.

6. The Credit Note can now be raised against a Cost Option Invoice.

To post a Credit Note:

1. Select the Credit Note in the Costing tab of the Jobs Management module.

2. Navigate to the Invoicing tab.

3. Click the Post icon.

Note: If the Credit Note amount is larger than the Invoice it is applied to, an error will occur and the amount will not be applied.