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How to create a credit note in project management & accounting?

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Posted on by Evelyn Wong

Hi,

I have an issue, may I know how can I create a credit note if the project doesn't have transaction exists that can be selected for a credit note.

The Sales Order status is invoiced.

Thanks and regards,

Evelyn

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Ludwig Reinhard Microsoft Employee on at

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RE: How to create a credit note in project management & accounting?

Hi Evelyn,

You could post a project vendor invoice with a negative amount and then create an invoice proposal.

The disadvantage of doing that is that you would have to enter a cost price on an account that needs to be corrected later on. I think this is not really a good alternative as it creates a lot of additional work. Only if you have not other option available and nobody else can help you, I would take this into consideration.

Best regards,

Ludwig
Evelyn Wong 5 on at

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RE: How to create a credit note in project management & accounting?

Hi Ludwig,

I can check with our HQ to see if a new category can be set up.

The reason is that our Project Module are setup by consultants according to the business needs.

However, can I check if you have another way to procced?

Thanks and regards,

Evelyn
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Ludwig Reinhard Microsoft Employee on at

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RE: How to create a credit note in project management & accounting?

Hi Evelyn,

I see.

Can you get somebody in your company who could setup a new fee category for you that you could use for invoicing purposes?

Best regards,

Ludwig
Evelyn Wong 5 on at

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RE: How to create a credit note in project management & accounting?

Hi Ludwig,

No, all the project category already setup for project transactions and billing purpose.

Regards,

Evelyn
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Ludwig Reinhard Microsoft Employee on at

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RE: How to create a credit note in project management & accounting?

Good morning Evelyn,

Do you have any other fee category that you could use for creating the fee journal line?

Best regards,

Ludwig
Evelyn Wong 5 on at

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RE: How to create a credit note in project management & accounting?

Hi Ludwig and Christoph,

I have checked and cannot use the fee journal.

We used it to set up for month revenue recognization purposed.

Thanks & regards,

Evelyn
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Ludwig Reinhard Microsoft Employee on at

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RE: How to create a credit note in project management & accounting?

Hi Evelyn,

Did you try to follow the screenprints that Christoph shared?

Simply try to use an ordinary fee journal that you can open from your project and then invoice the posted transaction.

Best regards,

Ludwig
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Christoph Thaler 5,442 on at

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RE: How to create a credit note in project management & accounting?

Hi Evelyn.

You can register a "Fee" journal on project level with negative amount.

As soon as the journal is posted you can create an invoice proposal where you can see the credit amount
Evelyn Wong 5 on at

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RE: How to create a credit note in project management & accounting?

Hi Ludwig,

Thank you for your reply.

However, may I know how and where to create a free transactions with negative amount?

Thanks and regards,

Evelyn
Suggested answer

Ludwig Reinhard Microsoft Employee on at

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RE: How to create a credit note in project management & accounting?

Hi Evelyn,

If you have not prior transactions to select from then you can create a free transactions with a negative amount and then create and invoice proposal. The resulting 'negative invoice' document will be called credit note and posted correspondingly.

Best regards,

Ludwig