Creating account based debit / credit note
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This page allows you to create an account-based debit or credit note. Tell me more.
Select the “Create Account Based Note” link under the “Customer Debit Credit Note” business component.
The “Create Account Based Note” page appears.
The system displays the following:
Status |
The status of the debit / credit note. It could be “Draft”, “Fresh” or “Authorized”. |
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Enter the following fields in the “Note Information” group box:
Note # |
The unique number identifying the debit / credit note (Alphanumeric, 18). This number is generated and displayed by the system, when the “Create Note” or the “Create and Authorize Note” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Numbering Class” business component. |
Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.
Note Type |
Use the drop-down list box to select the type of note you want to create from “Debit” or “Credit”. The system displays “Credit” by default on launch of the page. |
Note Date |
The date on which the debit / credit note is created (Date Format). Mandatory. The date entered in this field must be before or the same as the system date and must be a valid date in an “Open” financial year. The system date is displayed by default on launch of the page. |
Finance Book |
Use the drop-down list box to select the code identifying the finance book in which the posting is to be made. All the finance books that have been mapped to the login organization unit will be available for selection in the ascending order if postings can be made in multiple finance books. If postings must be made in a single finance book, the book that has been set as default will be displayed. |
Numbering Type |
Use the drop-down list box to select the numbering type for the login organization unit and the “Account Based Credit Note” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component. |
Note: If “Debit” is selected in the “Note Type” field, the system will retrieve the numbering type for the login organization unit and the “Account Based Debit Note” transaction type.
Enter the following in the “Customer Information” group box:
Customer # |
The code identifying the customer for whom the debit / credit note is being created (Alphanumeric, 18). Mandatory. The customer must have been defined in the “Create Customer” activity of the “Customer” business component and must be in the “Active” status. |
Press <Enter> key. |
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The system retrieves and displays the name of the customer and the currency in which transactions take place. |
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Help facility available |
Note: If “Debit” is selected in the “Note Type” field, the system retrieves the name of the customer, the currency, the pay term and the receipt method, which has been mapped to the customer.
The system displays the following in the “Customer Information” group box:
Customer Name |
The name identifying the customer. |
Enter the following in the “Customer Information” group box:
Customer Registered At |
Use the drop-down list box to select the code identifying the organization unit in which the customer has been defined. All the organization units that have been mapped to the login organization unit will be available for selection in the ascending order. |
Customer Note # |
The number identifying the debit / credit note issued by the customer (Alphanumeric, 18). |
Customer Note Amount |
The amount of the debit / credit note (Decimal). The value entered in this field must be greater than zero. |
Note: This field must not be left blank if a value has been entered in the “Customer Note #” field.
Customer Note Date |
The date on which the debit / credit note issued by the customer was created (Date Format). The date entered in this field must be before the debit / credit note date that is being created. The system date is displayed by default on launch of the page. |
Note: This field must not be left blank if a value has been entered in the “Customer Note #” field.
Enter the following fields in the “Payment Information” group box:
Currency |
Use the drop-down list box to select the code identifying the currency in which the debit / credit note must be created. All the currencies that have been mapped to the ““Customer Receivable accounts” defined in the “Create Receivables Account Definition” activity of the “Account Rule Definition” business component will be available for selection in the ascending order. |
Note: The system displays the base currency of the company by default on launch of the page if it has been mapped to a “Customer Receivable accounts”.
If the account currency is not the same as the base currency of the company, then the currency selected here must be the same as the account currency.
The system displays the following in the “Payment Information” group box:
Exchange Rate |
The exchange rate of the transaction currency with respect to the base currency of the company if they are different. “1” (one) will be displayed if the transaction currency and the base currency are the same. |
Enter the following fields in the “Payment Information” group box:
Pay Term |
The code identifying the pay term (Alphanumeric, 15). Mandatory. This pay term must have been defined in the “Create Pay Term” activity of the “Pay Term” business component and must be in “Active” status. |
Help facility available |
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Receipt Method |
Use the drop-down list box to select the receipt method. If “Credit” has been selected in the “Note Type” field then “Blank” will be displayed by default on launch of the page. |
If “Debit” has been selected in the “Note Type” field all the receipt methods that has been defined in the Bank Cash Definition business component will be available for selection in the ascending order. It could be “Regular” or “Specific Bank”. The system displays “Regular” by default. |
Note: The value selected must be a valid method for the customer.
Anchor Date |
The date from which the liability of the debit note is calculated (Date Format). Mandatory. The system date is displayed by default on launch of the page. If “Credit” is selected in the “Note Type” field, this field can be left blank. |
Note: This field must not be left blank if “Debit” is selected in the “Note Type” field. The date entered in this field must be later than or the same as the date on which the debit / credit note is being created or the date on which the customer note was created.
The system displays the following in the “Payment Information” group box:
Total Amount |
The total amount of the debit / credit note which is calculated as the difference of the sum total of all the amounts that have to be debited or credited in the various accounts. This amount will be displayed when the “Compute” pushbutton is clicked after entering the transaction amounts for the various account codes. |
Enter the following fields in the “Payment Information” group box:
Comments |
Any observations regarding the payment to be received for the debit note (Alphanumeric, 255). |
Draft |
Check the box to save the debit / credit note in the “Draft” status. The system leaves this field unchecked by default on launch of the page. |
Note: The box must be left unchecked if you want to authorize the debit / credit note immediately on creation.
Enter the following fields in the “Document Information” multiline:
Account # |
The code identifying the amount in which the transaction amount must be debited or credited (Alphanumeric, 32). Mandatory. The account code must have been defined in the “Create Operative Chart of Account” activity of the “Accounting Setup” business component and must have been defined as a customer receivables account in the “Create Receivables Account Definition” activity of the “Account Rule Definition” business component. |
Help facility available |
Note: The account code entered here must not belong to the group “Capital” and must not be of the nature control account type or auto posting account type.
Dr / Cr |
Use the drop-down list box to set whether you want to debit or credit the transaction amount in the account code. You can select from “Dr” (Debit) or “Cr” (Credit). The system displays “Dr” (Debit) by default on launch of the page. |
Note: Either “Dr” (Debit) or “Cr” (Credit) must be selected for every row.
Transaction Amount |
The transaction amount (Decimal). Mandatory. The amount entered in this field must be greater than zero. |
Remarks |
Any observations regarding the need for the debit or credit of the amount (Alphanumeric, 255). |
Ref Doc Type |
Use the drop-down list box to select the type of reference document based on which the debit / credit note is being created. You can select from “Order Based Invoice”, “Direct Invoice”, “Prepayment Invoice”, “Debit Note”, “Credit Note”, “Transfer Debit Note” and “Transfer Credit Note”. The system displays “Order Based Invoice” by default on launch of the page. |
Originating Point |
Use the drop-down list box to select the code identifying the organization unit in which the “Customer Direct Invoice”, “Customer Order Based Invoice”, “Customer Debit / Credit Note”, “Customer Prepayment Invoice” and “Customer Balance Transfer” business components are available. All the organization units that have been mapped to the login organization unit and in which the above-mentioned business components have been deployed will be available for selection in the ascending order. |
Note: An originating point must be selected if reference document is selected in the “Ref Doc Type” field.
Ref. Doc # |
The number identifying the reference document (Alphanumeric, 18). |
Note: This field must not be left blank if a type of reference document is selected in the “Ref Doc Type” field.
The system displays the following in the “Document Information” multiline:
Reference Doc Date |
The date on which the reference document was created. |
Ref Document Amount |
The amount of the reference document. |
Enter the following fields in the “Document Information” multiline:
Cost Center |
The code identifying the cost center that has been mapped to the account (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component. Smart search enabled. |
Help facility available |
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Analysis # |
The analysis code to which the account is mapped to in the “Assign Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5). Smart search enabled. |
Help facility available |
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Sub Analysis # |
The sub-analysis code to which the analysis code is mapped to in the “Assign Sub Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5). Smart search enabled. |
Expense Classification |
Enter the user defined classification of the expense / income accounted by the debit / credit note. Ensure that the value specified in this field is an “active” quick code defined for the Entity “Expense Classification” in the “Create Quick Codes” activity of the “Quick Codes” business component. The system leaves a blank by default. Help facility available |
Check the box in the multiline to mark account codes for calculating the total amount.
Note: At least one row in the multiline must be selected for calculating the total amount.
Click the “Compute” pushbutton to calculate the total amount.
The system calculates the total amount, which is the difference of the sum total of all the amounts that have to be debited or credit in the various accounts.
Note: If “Debit” is selected in the “Note Type” field, the sum total of all the amounts that have to be debited must be lesser than the sum total of all the amounts that have to be credited. If “Credit” is selected in the “Note Type” field, the sum total of all the amounts that have to be debited must be greater than the sum total of all the amounts that have to be credited.
Click the “Create Note” pushbutton to create a debit / credit note.
The system generates a unique debit / credit note number if “Automatic” numbering type has been opted.
Status Update
The system updates the status of the debit / credit note as “Draft” if the box beside the “Draft” field has been checked.
The system updates the status of the debit / credit note as “Fresh”.
Financial posting details
The system saves the sum total amount in the base currency and the parallel base currency of the company.
The system saves the transaction amount in the account currency and debits the individual customer receivable account if a “Debit Note” is being created. The transaction amount is also saved in the base currency and the parallel base currency of the company.
The system saves the transaction amount in the account currency and credits the individual customer receivable account if a “Credit Note” is being created. The transaction amount is also saved in the base currency and the parallel base currency of the company.
The system debits or credits the transaction amount in the respective account code entered in the “Account #” field. The system also saves the transaction amount in the base currency and the parallel base currency of the company and the details of the finance book in which the postings must be made.
The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.
Click the “Create and Authorize Note” pushbutton to create a debit / credit note and authorize it.
Status Update
The system updates the status of the debit / credit note as “Authorized”.
Financial posting details
The system saves the sum total amount in the base currency and the parallel base currency of the company.
The system saves the transaction amount in the account currency and debits the individual customer receivable account if a “Debit Note” is being created. The transaction amount is also saved in the base currency and the parallel base currency of the company.
The system saves the transaction amount in the account currency and credits the individual customer receivable account if a “Credit Note” is being created. The transaction amount is also saved in the base currency and the parallel base currency of the company.
The system debits or credits the transaction amount in the respective account code entered in the “Account #” field. The system also saves the transaction amount in the base currency and the parallel base currency of the company and the details of the finance book in which the postings must be made.
Payment Schedule
The system generates a payment schedule based on the pay term defined for the customer.
The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.
The system displays the following:
Created By |
The login ID of the user who created the account based debit / credit note. |
Created Date |
The date on which the account based debit / credit note is created. |
To proceed, carry out the following
Select the “Edit Account Based Note” link at the bottom of the page to modify the details of the newly created account based debit / credit note.
Select the “Payment Schedule” link at the bottom of the page to modify the default payment schedule.
Select the “Note Summary” link at the bottom of the page to view the summary of a debit / credit note.
Select the “Accounting Information” link at the bottom of the page to view the account posting information.
Select the “Attach Notes” link at the bottom of the page to add observations or comments regarding the debit / credit note.
Creating account based debit / credit note – An overview
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An account-based note is created for the difference in the rates of any amount that is not calculated based on individual parts. A document reference is not mandatory for the creation of an account-based debit or credit note.
You can select the type of the note, that is the “Debit Note” or the “Credit Note”, that you want to create. You can enter the number identifying the note if you have opted for the “Manual” numbering type. The system generates a unique number identifying the note if you have not opted for the “Manual” numbering type. You can enter all details pertaining to the customer including the number identifying the document issued by the customer and the amount of the document. If you are creating a debit note you can enter all information pertaining to the payment of the amount.
This page also allows you to enter the account codes in which the transaction amount must be debited or credited. Details of the cost center, analysis and sub analysis can also be entered for the individual account code for the purpose of analysis. The system saves the total amount, for which the debit / credit note is created, in the transaction currency, base currency and the parallel base currency of the company.
A newly created debit / credit note is usually saved in the “Fresh” status. You can authorize a note that is in the “Fresh” status. If you want to make more changes to the debit / credit note, you can save it in the “Draft” status. This page also allows you to authorize a debit / credit note during the creation process. The status of the debit / credit note is updated to the “Authorized” status
Mandatory
“Finance Book” must have been defined in the “Organization Setup” business component.
"Numbering Type” must have been defined in the “Numbering Class” business component.
“Customer Codes” must have been defined in the “Customer” business component.
“Pay Term” must have been defined in the “Pay Term” business component.
“Exchange Rate” must have been defined in the “Exchange Rate” business component.
“Account Codes” must have been defined in the “Accounting Setup” business component.
“Account Codes” must have been defined as an customer receivable account using the “Create Receivables Account Definition” activity of the “Account Rule Definition” business component. “Currencies” must have also been mapped to the customer receivable accounts.
At least one “Order Based Invoice”, “Prepayment Invoice”, “Debit Note”, “Credit Note”, “Transfer Debit Note” or “Transfer Credit Note” must be available based on which the “Debit / Credit Note” can be created.
“Set Function Defaults” activity available in this business component must be completed.
Optional
“Analysis / Subanalysis Codes Applicable” must be set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component to use the analysis and subanalysis code.
“Analysis #” must have been mapped to the account code in the “Assign Analysis Code” activity of the “Account Based Budgeting” business component.
“Sub Analysis #” must have been mapped to the analysis codes in the “Assign Sub Analysis Code” activity of the “Account Based Budgeting”.
“Cost Center Applicable” must be set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component to use the cost center.
“Cost Center” must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component.
Set whether to debit / credit transaction amount
Select the type of reference document
You can set the type of note that you want to create. You can create a debit note or a credit note in this page.
Set the “Note Type” field as “Debit” if you want to create a debit note.
Set the “Note Type” field as “Credit” if you want to create a credit note.
You can save a debit / credit note in the “Draft” status if you want to add some more information. You cannot authorize a debit / credit note in this status.
Check the box beside the “Draft” field to save the debit / credit note in the “Draft” status.
Set whether to debit / credit transaction amount
You can debit / credit the transaction amount for an account code based on whether you want to create a debit note or a credit note.
Set the “Dr / Cr” field to “Dr” if you want to debit the transaction amount.
Set the “Dr / Cr” field to “Cr” if you want to credit the transaction amount.
Select the type of reference document
You can select the type of reference document based on which the debit / credit note is being created.
Set the “Ref Document Type’ field to “Order Based Invoice” if you want to create a debit / credit note based on an order based invoice.
Set the “Ref Document Type” field to “Prepayment Invoice” if you want to create a debit / credit note based on a prepayment invoice.
Set the “Ref Document Type” field to “Debit Note” if you want to create a debit / credit note based on a debit note.
Set the “Ref Document Type” field to “Credit Note” if you want to create a debit / credit note based on a credit note.
Set the “Ref Document Type” field to “Direct invoice” if you want to create a debit / credit note based on a direct invoice.
You can calculate the sum total amount for which the debit / credit note is created.
Enter the amount in the “Transaction Amount” field.
Click the “Compute” pushbutton.
The system calculates and displays the sum total of the transaction amount in the “Total Amount” field.
