Credit Notes

You can configure your system to create separate credit notes for the transaction types detailed below. This will only happen when the total of the transaction is a negative amount, not just one component of the transaction. Like invoices, credit notes can be re-printed from the Billing / Re-print screen.

You can configure negative records to convert to a credit note automatically, or you can provide an alert asking the user to choose if the transaction is to be recorded and shown as a credit note or not.

Credit Note Records

If you use the credit note feature, the invoice header will show as 'Credit Note' instead of 'Tax Invoice'.

If more than one transaction is recorded as a credit note, these transactions will all be grouped onto one credit note.

Fuel Card and Booking transactions may contain line items that have a negative value. These will not trigger a credit note to be generated, as the total amount is still a positive amount.

Credit Notes can only be created for the three transaction types listed below.

Generating Credit Notes

Contracts / Lease

• Credit note transactions will be created if you edit an existing lease period or insert an adjustment entry

• The field is set to 'credit'

• You will be able to see that the transaction will be a credit as the "Note" column will display as 'Credit'

• These credit notes can be generated from Periodic or Combined billing screens and periodic or combined scheduler jobs

Approvals / Approval

• If the total of the approval's recharges are negative, they will become a credit note

• The field will be set to 'yes'

• These credit notes can be generated from Combined, Recharge, or Recharge / Fuel billing screens and periodic or combined, recharges, or rechargesFuel scheduler jobs

• Billings for Recharge / Fuel or scheduler jobs for rechargesFuel will not generate separate credit notes for small credit amounts where the total charge still requires an invoice. This is because the imported credits for fuel cards are normally small rebates where a credit note is not applicable

Sale Management / Sale

• If the sale transaction total is negative, this will become a credit note

• The field will be set to 'yes'

• These transactions are invoiced directly from the Sale area

Billing / Re-Print

• Credit notes re-printed from the Re-print screen will show the same details

Setup Configuration

Update the controls below to enable credit notes. For the steps to follow to do this, go to the process page Update a global control.

Credit Management

Credit Management is calculated based on the amounts allocated to "Financier" or "Grp Financier". This means you can see the "Credit Limit" that is available for this client for the chosen "Facility Type". The credit is further detailed as:

• "Used" (the credit already used on active contracts)

• "Remaining" (Credit Limit less Used)

Details

A credit line is allocated to either a "Financier" or a "Grp Financier". The credit line can also be classified further by "Asset Type".

Calculating "Used" Credit

The "Used" credit amount is calculated and updated from a scheduler job. This job is usually set to run nightly, but can be updated to run more frequently. If the job is not set up or is 'inactive' then the "Used" amount won't update.

Facility Type

The "Used" calculation varies depending which "Facility Type" is being calculated. The different facility calculations are summarized below.

Open the Revolving calculation spreadsheet to see the calculations for 'Revolving' and 'Revolving Less Rv'.

Contract Selection

Contracts will only be included in the "Used" calculation if the following three details are in place:

• Contracts / Order "Status" must be either 'Settled', 'Settled - Awaiting Documents', or 'Extension in Progress'

• Contracts / Finance "Facility Type" must be chosen

• Contracts / Finance "Residual Due Date" must be populated

Additional Fields

• Orders - calculated at the end of Financiers screen. This field takes into account all the clients that are linked to the current client as either parent or child. Orders is the sum of all the Amount Financed of the contracts that are active and not containing 'settled' in Order Status of Contracts / Order tab

• Remaining Total - sum of all credit allocated minus the used amount

• Active Only (Check Box) - if checked, entries with a status of 'Active' will be shown only and this will be the screen's default setting. When unchecked, it will display all active and inactive entries. Active entries means where Expiry Date is greater than current date

Set-Up Notes

Create a scheduler job using the updateClientFinancierCreditUsed method. This method calculates the current Clients / Financiers "Used" field amount. Set this to run nightly.