The essentials about credits in a nutshell.

In addition to the general procedure for creating new documents, credits can also be created from invoices. You can think of credits as the counterpart to invoices.

What is the credit status of my credit and what does it mean?

A credit always has a certain status:

You can see the status of your credits at any time in the credits overview, which you can find via the credits option in the left navigation. 

Outgoing payments instead of incoming payments

Since a payment is not expected with a credit, as is the case with an invoice, but a disbursement is made, credits reduce your own turnover.

In contrast to invoices, it is not incoming payments that are posted, but outgoing payments

Canceled invoices: correction invoice instead of credit!

For canceled invoices, it used to be correct to create a credit memo for accounting purposes. But this is no longer the case.

If an invoice is incorrect and needs to be corrected, this is no longer done with a credit note, but with an invoice correction or correction invoice. 

In the past, a credit could always have two different functions:

  1. The function as a reverse invoice - not the other person issues you an invoice, but you a credit note to the other party. The credit note still has this function today.
  2. The second function of the credit memo was to correct invoices. With the credit, the invoice or parts of it could be equalized by a credit for the previous amount. This is no longer possible these days. 

Correctly correct invoices with correction invoices

Invoices must now be corrected with correction invoices. The main difference, besides the name designation, is that you have to use negative signs for the correction calculation.

A credit note has offset an incorrect invoice with a positive amount, a correction invoice does so with a negative amount.

Example: A 100 EUR invoice is neutralized with a -100 EUR correction invoice. 

In Billomat you can easily create a correction invoice from the invoice. You can find detailed instructions in the article How do I create and post a correction invoice?