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Credit Memo for Invoice

Can this be done?

We have an event - it's cost is $450. member signs up, invoice is produced and the member pays $450. - nice and clean

Then, for a host of reasons, the cost is reduced at a later date by $80 and a refund check is issued. I want to issue a credit memo for the $80 so the member has this on their account and then we record the refund check issued and the account is back in balance.

The net revenue for this event is $370.

How can we do this?

Thank you in advance,

Patty

14 votes
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    Patty shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →

    15 comments

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      • FSSAMemberDir commented  ·   ·  Flag as inappropriate

        Allow admin to void invoice instead of having to delete
        I feel this would be more acceptable bookkeeping practice

      • J Buckley commented  ·   ·  Flag as inappropriate

        We have all kinds of bookkeeping issues with this as well and would LOVE to see better accounting controls put in place - several have been mentioned on this thread.

        Thank you!

      • Carla Nagel commented  ·   ·  Flag as inappropriate

        Just a message that we (based in the Netherlands) fully agree with the request below.

        [quote user="TBOC"]

        That might work for the record keeping in the software but not for tax office reports. An invoice must be reversed properly by a reversal invoice which can be booked and printed out to place it behind the initial invoice.

        A system implemented feature could also be that the invoice is only manually generated AFTER the payment was settled (as it can be done with popular shop software). Manually generated invoices would prevent that the system generates invoices while the payments never get settled.

        Now the system generates an invoice which must be settled but it would be more convenient if it would be handled like a "shopping cart".

        1) You order a membership.

        2) You settle the payment.

        3) if the payment wasn't made within a defined grace period, the order will be deleted.

        4) if the settlement was done, the system generates an invoice.

        This is spares a lot of work [/quote]

      • lormor commented  ·   ·  Flag as inappropriate

        Yes, we need to be able to issue credit memos, too! Changing the original invoice amount is not okay from an accounting standpoint. Credit memos are very common and are important function. I will ask our treasurer if creating a "credit memo" tender type would work for us.

      • AdminApricot Kernel (Product Manager, Wild Apricot) commented  ·   ·  Flag as inappropriate

        Well, while you can it this way, from financial point of view you should not change initial invoice, instead you need to produce credit note for required amount and issue refund for that. Exactly as it was described in the initial comment.

        Credit notes were part of our financial module scope but we have removed it in the very end and put into future changes queue. Thanks for noting about this, I will mark the feature in our queue but I cannot tell you time estimates.

        Moving into Wishlist - if anybody finds credit notes important for their workflow, please comment.

      • Fluid Apricot commented  ·   ·  Flag as inappropriate

        Hello Patty,

        Sure this is possible, its just a matter of adjusting the invoice amount and recording the refund.

        i.e. Update the event invoice to indicate the new cost, see http://help.wildapricot.com/display/DOC/Adjusting+or+canceling+an+invoice (this will leave a "credit" or unused payment of $80 on the account). Once the refund check is issued you then record the refund and settle it with the $80 payment, see http://help.wildapricot.com/display/DOC/Refunds#Refunds-Record'onaccount'refund

      • Dmitry Buterin commented  ·   ·  Flag as inappropriate

        Good point, we will consider this.

        For now I would like to collect feedback on how people use the new functionality - would appreciate comments from others!

      • skipat commented  ·   ·  Flag as inappropriate

        Ok, that's a good addition, didn't realize what it was for, we can definitely use that.

        However, that now means we have to enter the info twice --- one for the internal notes, so we can see it in the listing of all the financial transactions, so we know what it is without opening each one, and once for the user so they will know what it is when they are in their profile.

        One solution would be to have the comments to payer visible in the transaction listings?

      • Dmitry Buterin commented  ·   ·  Flag as inappropriate

        Am I correct that credit in your case corresponds to partially/fully unused payment?

        If so, have you considered using 'Comment to payer' field in payments? This field is shown to the contact.

        The internal notes are designed to be admin-only so we would not show them to the contact.

      • skipat commented  ·   ·  Flag as inappropriate

        Overall the new capability for users to self-service their billing is great.

        However I do think many users will be confused by the lack of information about credits they may have on their account. Right now the only thing is says is "Payment" with the amount/date.

        We put internal notes when credits are generated so that we know the source (i.e. name of event if a cancelation credit, or raffle prize credit if it was a gift for example) and can be sure the credit is valid and not an Event Manager error.

        I don't think our members intuitively think of their credits as "payments", so with no other explanatory information on the record they may not understand that's what it is. If they have multiple credits, they have no way of knowing where they came from to be sure they have the right credits.

        Even when you click on the Payment link, it doesn't' give you any additional information, such as the internal notes that the administrator put on the record. That would at least be helpful even if the system can't post more information about the record automatically.

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