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I’m
frustrated
How do I match a credit note to an invoice?
I have an invoice I want to credit. I have raised the credit note but how do I match the two together so they both appear "paid"?
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Duncan,
We're in the process of implementing a way of including credit/carried-forward amounts on invoices & credit notes (see this thread here.
But what would also work is if you enter a pair of manual bank account entries for, say, today with one paying the invoice and one refunding the credit note. There will therefore be no overall affect on the bank balance, but both will be marked as 'paid'. -
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I’m
happy
Thought that would be the answer - its a bit clunky but does the job I guess. Going forward it would be good to be able to "pay" an invoice by using credit notes for the same customer, but its not something that happens often for me so its only a minor issue.
Thanks for the help. -
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I’m
frustrated
Really need this functionality...
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rbbhghs,
Sorry we're not there yet with the 'carried forward item' feature. There are some complexities to the VAT handling which we're wrestling with.
In the meantime, does the 'two balancing-out manual entries' workround work for you? I'm happy to walk through it in more detail if needed...-
Hello Ed,
I had an invoice that was overpaid on 1st October 2007, and I refunded the overpayment on 13th March. However, the payment on 1st October doesn't register for VAT calculations Q4 2007 (it is marked as paid on 13th March, but doesn't seem to affect the calculations for Q1 2008). Is this the same issue?
Andrew -
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andreww - if that invoice was issued under an Invoice (accrual) basis VAT return the VAT will be calculated from the invoice date, not the date of any payments or refunds. Can you confirm that's what's going on here?
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I’m
hoping to see a better solution to this one day
Ed's advice at the start of this post has allowed me to at do what I need to do and get the numbers right (thanks!), but it is quite clunky. I'm also worried whether the manual entries will make sense to my accountant at year end, especially as I couldn't attach an explanatory note to them easily.
Issuing credit notes is thankfully not a regular occurrence for me, but it would be good to see this working more as you'd expect. -
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I have the same issue. Dutch tax legislation will not accept it being booked to a bank account that does not match the statements.
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I've done the balancing manual payments thing
But now every payment explanation on the system asks if I want to
"Use an existing Manual Entry" -
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Hi Ed, We are a year on from when this ticket was first raised and you mentioned you were working on it. Any news on allowing us to match a Credit note to an Invoice or do we still have to make the fake "double entry" into the accounts? -
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I’m
confused
Any update on this?
I find this aspect of freeagent by far the most confusing of everything. It perpetually wrecks my head.
I have a client who owes me well info 5 figures, and urgently needs a statement.
I need to apply a credit of £260 to an old invoice so I can provide a correct statement.
Do I still have to fake the payment etc etc? -
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Hello,
It is still a case of using a fake bank account entry to net off, I'm afraid - this article explains how http://www.freeagentcentral.com/suppo...
Lee, if you get stuck with your specific situation again, please do e-mail support[at]freeagentcentral[dot]com and I'll give you a hand.
Kind regards,
Emily -
EMPLOYEE
EMPLOYEE
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