Negative Invoices and Credit Notes

Negative Invoices and Credit Notes



Under some circumstances, when dealing with changes to customers’ requirements on pre-paid work, a Misc charge or credit is created against the job / order.

As we cannot post negative invoices to most accounting systems, we need to handle these situations within IQ.


IQ will no longer produce an Invoice or Credit Note with a negative total.

If the totals are negative when saved, the line totals are reversed (negative to positive and vice-versa) resulting in a positive total. The Type is also changed (from Invoice to Credit Note or Credit Note to Invoice).


An example of this could be a pre-paid order where the customer orders a quantity of 50 of a store item…




And proceeds thru the Checkout where the order is paid for…



The customer later requests a quantity change to 25.

Open the order to click Edit Order to open the edit modal.

Change the quantity from 50 to 25, ensuring that the ‘Calculate Charge’ switch is enabled…





And click Update to apply your changes and Close to close the modal


There is an alert that Invoicing requires attention.

Click the drop-down and select Create Invoice…





A New Invoice screen opens.

A popup modal appears depicting all invoices relating to this order.




You can choose to view them (they open in a new tab) or close this to continue.


As this is effectively a negative invoice, IQ has flipped the values on the invoice lines and changed it from being a negative invoice to a positive credit note automatically.

Note the Freight charged on the original order has also been reduced and is included on the negative invoice.








With a manually created invoice the process works just the same…




Select customer, enter a description, quantity and actual amount.

Change the ‘Actual’ to a negative…



When saved, the invoice is changed to a Credit Note with a positive total…





If a new line is added to this credit note, which has the effect of making the total value negative again…





The form will revert to being an Invoice on save…





Notes


Note the Invoice Number does NOT change when the type changes from Invoice to Credit Note.





    • Related Articles

    • Consolidating Existing Invoices and Credit Notes

      Multiple qualifying invoices for the one customer can be consolidated onto one invoice by users with the ‘Invoice – Admin’ role. This applies to Sales Invoices only. Sales Credit Notes can also be consolidated together in the same manner as described ...

    • Credit Notes

      IQ is a ‘one-way’ export. Amendments can be done in your accounting software only if you like. If you want to make the alteration in IQ and then export, follow the below procedure. When you need to credit an invoice, go into the exported invoice in ...

    • Creating and Managing Invoices

      Create an Invoice (Single Jobs) To create an invoice from the job, go to the “All Jobs Board” tab, filter by Awaiting Payment then select the required job. Here you can add a miscellaneous charge if required (see accounts ‘ Adding a Miscellaneous ...

    • INVOICING - Void an Invoice & Invoice Lock Down

      VOID AN INVOICE You can only void an invoice that is in Draft. If the invoice is approved or sent then you would need to create a credit note against it and re-create a new invoice. If the invoice has not been sent to your customer, after you create ...

    • V48 Release Notes

      Please see attached v48 Release Notes File under Attachments