This guide provides instructions on how to record credit losses on sales invoices and how to adjust accounting settings. The guide includes step-by-step instructions for recording credit losses, managing invoices, and handling VAT.

CONTENTS

You can make credit loss entries for sales invoices by selecting Sales > Sales invoice list. In the view, the sales invoice list is displayed, where invoices can be filtered using different search criteria. A separate default account is defined for credit losses, to which the entries are posted. This account can be edited if necessary by selecting Financial management > Accounting settings > Basic data of accounting > Accounts used in default entries > Sales credit loss account.

Credit loss entry

In the example, the search in the sales invoice list is filtered to show invoices in collection:

Make a credit loss entry from the sales invoice list as follows:

  1. Select Sales > Sales invoice list.
  2. Filter the list to show the desired invoices (for example, invoices in collection).
  3. Select the invoices you want to record as credit losses.
  4. From the Invoice actions menu, select Record as credit loss.

In the view that opens, the number and total amount of invoices are displayed, as well as the account to which the credit loss entries are made.

Make the credit loss entry in the view that opens as follows:

  1. Check the number of invoices and the total amount.
  2. Check the account to which the credit loss entries are made.
  3. If necessary, change the posting date (by default, the current day).
  4. Select Record as credit loss.

When you select Record as credit loss, the system records all selected invoices as credit losses, the status of the invoices changes to credit loss, and the voucher is posted to the bookkeeping.

Finally, a summary of the modified invoices is displayed in the view. In this view, the original voucher of the invoice is visible. The credit loss voucher can be viewed by drilling down to the invoice and from the invoice payments to the voucher.

The credit loss entry as shown in the invoice payments:

The voucher that has been formed from the credit loss entry:

You can also record a credit loss on an invoice by adding a payment and setting the processing method to credit loss.

  • Open the desired sales invoice.
  • Add a payment and select credit loss as the processing method.

Partial credit loss entry

A partial credit loss entry is made manually by adding a payment to the invoice that corresponds to the portion to be recorded as a credit loss. This is done via the payment and by editing the voucher.

Make a partial credit loss entry as follows:

  1. Open the desired sales invoice.
  2. Select Sales invoice actions > Add payment.
  3. In the To account field, select the desired account or payment method (the choice does not matter at this point; the account can be, for example, a clearing account).
  4. Enter in the Payment date field the date on which you want the credit loss entry.
  5. Enter in the Amount field the amount that is to be recorded as a credit loss.
  6. Save the payment.
  7. Open the voucher created from the payment for editing.
  8. Change the counter account on the voucher to the default account defined for sales credit losses.

You can check the default account defined for sales credit losses by selecting Financial management > Accounting settings > Basic data of accounting > Accounts used in default entries > Sales credit loss account.

Make the necessary changes to the voucher as follows:

  1. Select the sales credit loss account as the counter account on the voucher.
  2. If you wish, add a description or additional information related to the credit loss entry.
  3. Save the changes made to the voucher.

This partial credit loss entry, recorded manually via the payment, is not shown in the sales invoice list under the subheading Credit loss.

Frequently asked questions

Q: Does the system know how to handle VAT recording?

A: The system also records VAT off the debt account. If the invoice has invoice rows with different VAT percentages, these are recorded on the voucher in proportion to the row amounts. The VAT entry for the credit loss follows the original invoice and its voucher.

Q: What if a payment is made on an invoice recorded as a credit loss?

A: Here are two example ways to proceed:

  • If the credit loss is recorded in an open period, remove the credit loss payment and cancel the voucher formed from the credit loss.
  • Record a payment on the invoice on the correct date with the processing method normal. This creates a so-called double payment on the invoice. Then make another payment as negative on the same day. This changes the open amount of the invoice to zero. Open the voucher of this negative payment for editing and make it a mirror image of the original credit loss voucher. This nullifies the original credit loss voucher in the bookkeeping.

Q: If the invoice is in Amil's service and a credit loss entry is made on it, does a message go to Amil?

A: In this case, the system does not automatically send a message to Amil.

Frequently asked questions

Q: How do I record a credit loss for several sales invoices at once?

A: Select Sales > Sales invoice list, filter the desired invoices, select the invoices to be recorded and choose Invoice actions > Record as credit loss. In the view that opens, check the number of invoices, amount, account and date, and select Record as credit loss.

Q: How do I change the default setting for the sales credit loss account?

A: Select Financial management > Accounting settings > Basic data of accounting > Accounts used in default entries > Sales credit loss account and edit the account as needed.

Q: How do I record a credit loss for only part of the invoice amount?

A: Open the sales invoice, select Sales invoice actions > Add payment, enter the desired amount and payment date, save the payment, and edit the voucher of the payment so that the counter account is the sales credit loss account. Save the changes to the voucher.

Q: Is a partial credit loss entry made manually via a payment shown under the Credit loss subheading in the sales invoice list?

A: No, it is not. A partial credit loss entry recorded manually via a payment is not shown in the sales invoice list under the Credit loss subheading.

Q: How can I see the voucher created from the credit loss entry?

A: Open the invoice for which the credit loss has been recorded and drill down from the invoice payments to the voucher of the credit loss entry.

Keywords: Credit loss, sales invoice, VAT, bookkeeping, payment, voucher, invoice, default account.


This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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