1. On July 1st, 2007 you issue an invoice in the amount of €1,740.74 to the customer. Its due date is in 90 days, that is, on September 29th, 2007.
2. On 25th July, 2007 you issue a credit note in the amount of €200 on the grounds of a reasonable complaint by the customer. In accordance with the company's business policy, the due date of credit note is 8 days regardless of the original approved deadline for payment. Due date of credit note is thus 2nd August, 2007.
3. Credit note that has been issued using this basic operation is closed on that date. Use the document due date as value date.
4. Select your customer for subject in Close outstanding items by reposting window. The original account receivable will be used for the account for reposting.
Click Close to create a journal entry.
Credit note is thus closed. The customer receivable is closed for the amount of the credit note by using invoice due date for due date of payment.
Comparing Methods Used When Closing Manually
Let us take a look at what is achieved when reposting in the window for closing outstanding items manually.
Closing manually does not mean reposting but only changes the reference to the linked document. That is why you get the following posts for the invoice and credit note in question:
You can see that due date remained the same for the credit note. Thus the issued invoice is partially closed on the due date of credit note.
Related topics:
For a general description of functions see: