Credit Notes

Linda Hawkins

Hi, I have a client who has created debtor invoices against a supplier (as requested by the supplier). The supplier has since raised a credit note against the client's account, thereby reducing the amount payable by client, but they now have sales invoices still outstanding, and no credit note. Can the Sales Invoices be applied to outstanding creditor invoices? Or should the sales invoices be voided and credit notes against supplier be raised instead? If the latter, which I believe should be the case, how is this done, and then applied as I have never been able to get my head around Reckon Hosted Credit Notes - thank you for reading 😁

Kris_Williams

I’m not quite sure what you are asking but I believe you have got invoices and bills for the same person. If so you can receive the payments and bank to a clearing bank account, and then pay the bills from the same clearing account. If there is a balance to be paid or received it can then be transferred to or from the actual bank account

Acctd4

Hi @Linda Hawkins

These are 2 separate sections - Adjustment/Credit Notes are for debtors (Customers), Bill Credits are the equivalent for creditors (Suppliers)

If you have a contra situation, this should just be managed using a Contra Clearing bank account instead. This allows you to "Receive Payment" for the full amount of customer invoices outstanding, depositing into this contra bank account.

You then select this Contra bank account to also "Pay Bills" from them (as a Supplier) 😊