The Wisenet credit note feature is an essential component of the accounts receivable management system, designed to allow organisations to manage invoice corrections effectively. Similar to the invoice feature, it facilitates issuing credit notes to cancel previously issued invoices, ensuring accurate financial records.
Key Features of the Wisenet Credit Note
1. Credit Note Issuance
- Cancellation of Invoices: Organisations can issue credit notes to negate the effects of an issued invoice. This is particularly useful in situations where learners opted to withdraw from the Course/Unit, allowing for prompt adjustments in financial records.
2. Standalone Credit Notes
- Independent Creation: The feature supports the generation of credit notes as standalone documents, allowing organisations to issue credit notes not only as adjustments to an invoice but also as discount coupons to incentivise future enrolment uptake. This flexibility enables organisations to apply credit notes to both existing and future invoices, facilitating promotional efforts while effectively managing account adjustments.
3. Communication with Debtors
- Email Notification: When a credit note is issued, the debtor receives an email notification containing a link to view the credit note. This ensures timely communication and transparency regarding their account status.
4. Document Accessibility
- Online Viewing: Debtors can access the credit note directly through the provided link. This user-friendly approach facilitates easy review of credit note details enhancing the overall learner experience.
5. Downloadable Format
- PDF Option: Debtors have the option to download a digital copy of the credit note in PDF format if needed. This allows for easy record-keeping and reference in future transactions, ensuring that both parties maintain accurate documentation.
Summary of Benefits
The Wisenet credit note features not only streamline the process of managing corrections to invoices but also enhance communication and record-keeping between organisations and their debtors (Learners/Workplaces). By providing immediate access to credit notes and the option to download them, the feature supports efficient financial management and fosters positive relationships with the learner.
This comprehensive approach ensures that organisations can maintain accurate financial records while providing exceptional service to their debtors, ultimately contributing to improved operational efficiency and customer satisfaction.
How to Add Credit Notes
A credit note is similar to an invoice that contains at least one finance item. It can be created from an issued invoice or can also be created as a standalone document from the Finance -> Credit Notes.
Learn More: How to Add a Credit Note
How to Apply Credit Notes
A standalone credit note can be issued independently of an invoice and will not automatically apply to any invoice.
Learn More: How to Apply Credit Note
How to Search, View and Manage Credit Notes
The Credit Notes page in Wisenet allows you to view and manage all credit notes created in Wisenet.
Learn More: How to Search, View and Manage Credit Notes.
Export selected invoice records using the Data Export feature.