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How do I post a credit note that does not affect Time Ledger?

Article ID
ias-6913
Article Name
How do I post a credit note that does not affect Time Ledger?
Created Date
26th September 2008
Product
IRIS Time and Fees
Problem
How do I post a credit note that does not affect Time Ledger?
Resolution
Credit notes can be posted to affect the Time Ledger in variety of ways. There are three main ways, credit notes that: KB IAS-6913 : Do not affect the Time ledger KB IAS-6914 : Cross billing reference KB IAS-6915 : Post a Write back For further information about Credit notes see KB IAS-6912 Credit Notes that do not affect the time ledger Credit notes may be posted using this method if you do not want your Credit note to affect your time ledger. This means that the credit note will not affect your recovery reports (to adjust profits or losses) or any of the WIP reports.
  • Log on to IRIS Fees from the IRIS Main Menu
  • Click on Postings | Ad hoc posting
  • It may ask you to select the period that you would like to put the Credit note posting to. For example, if you have two Fees Periods open, then it may prompt you, otherwise it will make the posting to the most current Fees Ledger Period.
  • The Fees Posting to Period (XXXX/XX) screen will be displayed, under posting type, click on Credit note
  • Enter the details for the Client For example A001
  • Enter the date.
  • Enter the Credit Amount. For example 200.00 this is excluding VAT
  • Select the relevant VAT rate
  • Ensure the Adjust T/L WIP is unticked
  • Click on the Post button
  • Depending on the options set in Fees Ledger Options, you may be prompted with a Fees matching screen window. If you want to match the credit note then i. Click on the Manual button, this will then display a Fees Ledger Manual Matching screen ii. Highlight the Credit note and click on the Match button iii. Match Fees Ledger posting screen will be displayed, double click on the invoice that you would like to match the credit note to iv. Click on the Back button. v. The Fees ledger Manual Matching screen will be displayed, click on the update button. vi. This will then display the Fees Posting to Period(XXXX/XX) screen Otherwise to continue with the posting and to match the credit note at a later date i. Click on the Continue button ii. This will then display the Fees Posting to Period(XXXX/XX) screen
  • The Credit Note posted will not affect the Time Ledger

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