To create a new credit memo:
- Go to ‘Customers’
- Select the correct customer by clicking on the customer name
- Select ‘New Action’
- Select ‘New Credit Memo’
- Populate the details of the credit memo
- Select ‘Done’
If you use a separate invoicing system, when the customer payment appears in your account, Business Finance Assistant automatically creates a sales receipt for the transaction as a record of sale.
If the credit memo is for part-payment of the invoice
Both the IPAY receipt and credit memo are presented as an option to manually attach/match to the bank transaction.
- Go to ‘Bank Transactions’
- Press 'Split/Attach' on the transaction
- Press 'Attach/Match document'
- Select 'Invoice'
- Select the IPAY receipt and click ‘Confirm Selection’
You then need to match the remaining amount to the credit note:
- Press 'Split/Attach' on the transaction
- Press 'Attach/Match document'
- Select 'Credit Memo'
- Select the Credit Memo and click ‘Confirm Selection’
- Confirm the transaction
If the credit memo amount exactly matches the transaction amount
If the credit memo was created before the refund the system will try to automatically link the refund to the credit memo where the amounts and dates match, but if the system does not do this then you will need to manually match it by following these steps:
- Go to ‘Bank Transactions’
- Select the account where the refund was paid from
- Find the refund payment on your bank transactions page
- Press 'Split/Attach' on the transaction
- Press 'Attach/Match document'
- Select 'Credit Memo'
- Select the credit memo, and 'Confirm selection'
- Confirm the transaction
Please note that it is the user's responsibility to ensure that all invoices and credit notes issued to customers are compliant with HMRC’s rules on the issuance of invoices and credit notes. For more information, and to familiarise yourself with the latest advice, please refer to the government’s website.