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How do I post a Credit Note using an Invoice cross reference?

Article ID
ias-6914
Article Name
How do I post a Credit Note using an Invoice cross reference?
Created Date
26th September 2008
Product
IRIS Time and Fees
Problem
How do I post a Credit Note using an Invoice cross reference?
Resolution
Credit notes can be posted to affect the Fees Ledger in a variety of ways. These are listed below:
  • Do not affect the Time ledger
  • Invoice cross reference
  • Post a Write back For further information about Credit notes see KB IAS-6912 Cross Billing Reference It is possible to post a credit note and cross reference it to an invoice reference. For example, INV1000. Posting credit notes will unmatch all the WIP originally written out by the invoice. To make this posting you would need to:
  • 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 in to.
  • Tick the radio button Credit note
  • Enter the details for the Client For example A001
  • Enter the date. For example 01/09/11
  • Enter the Credit Amount. For example 200.00 this amount should be excluding VAT
  • Select the Relevant VAT rate
  • Ensure the Adjust T/L WIP is TICKED
  • Place a tick in the box that reads “or completely write back time for invoice as specified in ‘cross ref’ below”
  • In the Cross ref box, enter the reference number that the credit note corresponds to, or press F2 and it will enter the latest invoice raised.
  • Click on the Post button. Technical Details
  • The credit note will appear in your Fees Leger and reduce the debtor balance of the client.
  • The credit note will ‘reverse’ the invoice in Time Ledger. This will ‘unmatch’ all the WIP originally written out by the invoice and cancel the bill posting.
  • This invoice will not show on the Billing Analysis report as it has been reversed. Related Articles KB IAS-6913: How do I post a credit note that does not affect Time Ledger? KB IAS-6915: How do I post a credit note that affects the Time Ledger?

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