Credit invoice (Purchases)

From Credit invoice search view you can allocate credit invoices to purchase invoices. Read the instructions here.

You can create credit invoices for sales and purchase invoices. Here we explain how you can create a credit invoice for a purchase invoice.

 

The original invoice has been paid and the money is being returned

Alternative 1. Create credit invoice

1. Create a credit purchase invoice by clicking Edit > Create credit invoice in the Invoice view.   
2. All the information from the original purchase invoice is copied to the credit invoice. The rows have negative quantities. 
   1. If the credit invoice does not credit the whole sum of the original purchase invoice, modify the rows of the credit invoice to represent the crediting part of the invoice. 
3. Save, Approve and mark the invoice as Payed elsewhere.
   1. Note that the Payment day should be the same as the day when the money is returned to the bank (can be seen in the bank statement).
4. Adjust the accounting of the credit invoice regarding the cost, VAT and balance transactions.
5. Check the bank statement of the payment date to verify that the payment is posted on the same account as the credit invoice.

 

Alternative 2. Post the payment transaction from the bank statement

Post the payment transaction from the bank statement to adjust the payment transaction. 

 

Setting off the credit invoice against the invoice

Alternative 1. Credit invoice has the same amount as the original invoice

• Credit invoice arrives to Procountor eather from the business partner or it is created by hand. 
  • If the invoice is done manually Create a credit purchase invoice by clicking Edit > Create credit invoice in the Invoice view.   
  • The rows have negative quantities. 
• Select the same dates to the credit invoice as it was in the original invoice. 
• Mark the original and the credit invoice as Payed elsewhere.

 

Alternative 2. Credit invoice covers only part of the original invoice

• Credit invoice arrives to Procountor eater from the business partner or it is created by hand. 
  • If the invoice is done manually create a credit purchase invoice by clicking Edit > Create credit invoice in the Invoice view.  
  • The rows have negative quantities. 
  • Delete rows that are not credited. 
• Mark the credit invoice as Payed elsewhere.
• Move to the original invoice and its Payment view (Go to > Payment). 
  • Write the amount of the credit invoice to the Pay column. 
  • Mark the invoice as Paid elsewhere.
• After the amount of the credit invoice is credited from the original invoice, the original invoice can be payed normally. 

 

Alternative 3: Credit invoice is larger than the original invoice

• When the credit invoice is larger than the original invoice, you can mark the original invoice as Paid and create a paid elsewhere transaction for the credit invoice equal to the amount of the original invoice.
• Set the payment date to the same day for both the original and credit invoices. If you wish, you can write the purchase invoice number in the message field of the credit invoice to know what this first transaction relates to.
• The credit invoice will remain in the Partly paid status and appear in open invoices until the full amount of the credit invoice is cleared.
• For the next invoice, where the excess amount of the credit invoice is used, you can mark the Paid elsewhere status with the remaining amount of the credit invoice and use the same date as the payment date of the credit invoice.
• If there is any amount left to be paid on the invoice, you can pay it normally through the Payment view. Once the credit invoice is fully cleared, it will change to the Paid status.

 

The sum of the purchase invoice is negative and reimbursement will be paid to bank account

In a situation when the reimbursement will be paid straight to bank and the purchase invoice sum is negative the invoice should be handled as following: 

• Move to the invoice and mark it as Paid elsewhere (Move to > Payment > Mark as Paid elsewhere)
• Follow the bank statement when the reimbursement will be paid and check the bank statement posting. The postings will be done based on the bank account default postings.  

Read more about creating credit invoices for sales invoices.