Adding credit notes

Note This information applies to Purchase Ledger v2. For information on version 1, please refer to Purchase Ledger v1.

You can add credit notes to Purchase Ledger.

This can be for creating credit notes against multiple invoices.

  1. Open the Supplier.
  2. Select the Action tab on the ribbon, and click Credit Note.
  3. Enter the details.
  4. Click Post.
Field Description
Credit No Enter the credit note number.
Date Select the date the credit note was created.
Net Amount Enter the amount of the credit note before VAT is added.
VAT Rate Choose the applicable VAT rate.
VAT The amount of VAT calculated from the Net Amount and the VAT Rate.
Total The total amount due calculated from the Net Amount and VAT.
Description Enter a description for the credit note.
Notes Add any notes required on the credit note.
Offset tab Shows the invoices or receipts currently outstanding for the supplier that may require a credit note applying.
 
Tick the box next to the invoice to apply the credit note to it.
Apportionment
Auto Apportion – If an invoice has been selected to offset, the credit note will be apportioned according to the split on the invoice. Otherwise, any default apportionment against the supplier will be set.
Click Clear All to delete all entries.
Add Nominal A Nominal for the full amount will be added by default when the Net Amount is entered. You can Delete it and add your own.
  1. Click Add Nominal.
    • Branch: Select the branch from the list.
    • Reference: Select the Nominal.
    • Description: Enter a description for the invoice line. This will default to the invoice description.
    • Net: Enter the amount before tax is added.
    • VAT Rate: This is set by the VAT rate on the invoice, unless multi VAT rate was chosen, in which case the appropriate VAT rate should be chosen.
    • VAT: The amount of VAT calculated from the Net and the VAT Rate.
    • Total: The total amount due calculated from the Net and VAT.
  2. Click Save.
Add Disbursement You can apportion funds to a disbursement.
  1. Click Add Disbursement.
    • Ref: Select the client and matter the disbursement applies to.
    • Desc: The description and a link to the chosen matter.
    • Client: The name with a link to the client's details.
    • Branch: Select the branch from the list.
    • Description:  for the invoice line. This will default to the invoice description.
    • Disbursement: Choose the appropriate disbursement from the list.
    • Billing Code: Select the billing code.
    • Anti-Disb offset: Choose any anticipated or unpaid disbursement on the ledger that applies to this posting.
    • Net: Enter the amount before VAT is added.
    • VAT Rate: Choose the applicable VAT rate.
    • VAT: The amount of VAT calculated from the Net and the VAT Rate.
    • Total: The total amount due calculated from the Net and VAT.
  2. Click Save.
Add Counsel Fee You can apportion funds as counsel's fees.
  1. Click Add Counsel Fee.
    • Ref: Select the client and matter the disbursement applies to.
    • Desc: The description and a link to the chosen matter.
    • Client: The name with a link to the client's details.
    • Branch: Select the branch from the list.
    • Description: Enter a description for the invoice line. This will default to the invoice description.
    • Disbursement:Choose the appropriate disbursement from the list.
    • Billing Code: Select the billing code.
    • Anti-Disb offset: Choose any anticipated or unpaid disbursement on the ledger that applies to this posting.
    • Counsel type: Select the type of Counsel; Junior or Leading.
    • Prior Authority Obtained?: Tick to show authority was obtained before hiring Counsel.
    • Preparation costs: Enter the amount.
    • Rate: Enter the rate.
    • Court costs: Enter the amount.
    • Rate: Enter the rate.
    • Travel time costs: Enter the amount.
    • Other costs: Enter the amount.
    • Net: The total of the costs entered in Preparation costs, Court costs, Travel time costs and Other costs.
    • VAT Rate: This is set by the VAT rate on the invoice, unless multi VAT rate was chosen, in which case the appropriate VAT rate should be chosen.
    • VAT: The amount of VAT calculated from the Net and the VAT Rate.
    • Total:The total amount due calculated from the Net and VAT.
  2. Click Save.
Amount to Apportion Shows the total of all amounts apportioned.
Current Balance The current balance owed to the supplier.
New Balance Shows the proposed balance owed to the supplier after the credit note has been posted.