The Credit Note Lifecycle
Credit notes are financial instruments with a negative face value that can be used to reduce the outstanding balance of other instruments, such as invoices.
Our new Credit Note feature allows you to upload, manage, and allocate these notes directly on the platform, streamlining how you handle reductions and netting.
This guide will walk you through the entire process, from initial setup to final reporting.
The process follows four main stages:
Setup (Admin Task): First, allocation rules must be configured to define how credit notes can be applied, including rules for currency conversion.
Upload & Allocate: You upload credit notes, either one by one or in bulk. During submission, you link credit notes to eligible instruments. This allocation process runs in the background.
Manage & Report: Once allocated, you can view the details, reverse allocations if needed, and run detailed reports.