5.1.1 Online Credit Note Creation (manual entry)

This topic provides systematic instructions to create one or more credit notes in one single transaction.

A corporate user, based on their role, can create one or more credit notes in one single transaction.

To create credit note(s):

1. From the Dashboard, click the Toggle Menu, then click Receivables/Payables, Receivables/Payables Management, and Create Credit Note.
   The Create Credit Note screen appears.
2. In the Create Credit Note screen, click Create New Credit Note to create credit note records manually.
   The New Credit Note tab appears.

   Figure 5-2 New Credit Note

   
   

   
   Description of "Figure 5-2 New Credit Note"

   
   

   Table 5-2 Create Credit Note -New Credit Note - Field Description

   Field Name	Description
   Party Name	Select the party name from the dropdown list in which the credit note must be created. By default, the primary party/gcif of the logged-in user is selected. Note: Only accessible parties are displayed to the user.
   New Credit Note	This section displays the New Credit Note related fields.
   Facing difficulty in entering data for multiple Credit Note? Use Bulk Upload	Click the Use Bulk Upload link to navigate to the File Upload screen for creating credit notes in bulk.
   Customer Credit Note Number	Specify the customer’s own reference number for the credit note.
   Associated Party	Select the associated party to link the credit note from all on-boarded associated parties. The list of on-boarded associated party is categorized by: Anchor Buyer Anchor Supplier Counter Party Buyer Counter Party Supplier On selecting an associated party, the role of the party as Buyer or Supplier, appears below this field.
   Program Name	Select the program to which the credit note should be linked. Programs linked to the selected associated party are listed. This field is visible only if the Oracle Banking Supply Chain Finance application is implemented by the bank.
   Auto Accept	Displays the number of days post creation when the credit note will be deemed as accepted. This field appears on selecting a program. It is displayed only if auto-acceptance is enabled at the program-level. For more information on programs, refer the Create Program section in User Manual Oracle Banking Digital Experience Corporate Supply Chain Finance.
   Auto Finance	Displays whether the credit note will be auto financed or not. This field appears on selecting a program. It is populated based on the auto finance setting in the program definition. For more information on programs, refer the Create Program section in User Manual Oracle Banking Digital Experience Corporate Supply Chain Finance.
   Credit Note Amount	Select the credit note currency and enter the gross credit note amount (not including tax or discount).
   Credit Note Date	Click the calendar icon and select the date of creation of the credit note.
   Expiry Date	Click the calendar icon and select the date on which the credit note expires. The Expiry Date should be greater than or equal to the Credit Note Date.
   Adjustment Reason	Select the reason for adjusting the invoice amount.
   Linked Invoice Number	Select the invoice that should be linked to the credit note. Once you link invoice(s), the Populate Commodity Details from Invoice toggle is enabled, and the commodities from the invoice(s) appear in the Commodity Details grid of the credit note.
   Populate Commodity Details from Invoice	This toggle is automatically enabled when you link invoices to the credit note in the Linked Invoice Number field. The Commodity Details section gets populated with the commodities from the linked invoice(s), when this toggle is enabled. Switch this toggle off in case you want to remove the commodities from the credit note.

3. Once you enter the above details, you can optionally add/modify the commodity details.
   1. To add a commodity record, click Add. An overlay window appears, where you can capture the commodity details.
   2. To modify an existing commodity record, click .
   3. To delete a commodity record, click .
4. Click Add in the Commodity Details section.
   The Add Commodity Details overlay window appears.

   Figure 5-3 Add Commodity Details

   
   

   
   Description of "Figure 5-3 Add Commodity Details "

   
   

   Table 5-3 Add Commodity Details - Field Description

   Field Name	Description
   Name	Specify the name of the commodity for which the credit note is being raised.
   Code	Select the code of the commodity. This value should be selected from the commodity code dropdown list. Note: This dropdown field displays the list of commodity code(s) maintained for the selected supplier party.
   Quantity	Specify the quantity of the commodity for which the credit note is being raised.
   Cost/Unit	Specify the cost per unit of the commodity.
   Gross Amount	Specify the gross commodity amount. It also gets auto calculated if quantity and cost per unit are entered. It is the product of the entered quantity and cost per unit. Gross Amount = Cost/Unit * Quantity
   Discount	Specify any discount offered on the commodity. You can either enter the percentage of discount (in the first field) or the actual discount amount (in the second field). When you enter any one of these values, the other value is automatically calculated and displayed. Note: This field is auto populated if a discount percentage is maintained for the selected commodity code. Click to reset the values.
   Tax	Specify any tax charged on the commodity. You can either enter the percentage of tax (in the first field) or the actual tax amount (in the second field). When you enter any one of these values, the other value is automatically calculated and displayed. Note: This field is auto populated if a tax percentage is maintained for the selected commodity code. Click to reset the values.
   Net Amount	Displays the net amount of the commodity. It is automatically calculated as follows: Net Amount = Gross Amount – Discount + Tax
   Create Copy	Select this check box to create a copy of the commodity details entered. On clicking the Add button, a commodity record is created in the Commodity Details section.

5. You can further add commodities by clicking Add, and filling out the required details.

   Figure 5-4 Commodity Added

   
   

   
   Description of "Figure 5-4 Commodity Added"

   
   

   Table 5-4 Commodity Added - Field Description

   Field Name	Description
   Commodity Details	This section displays the commodity detail records, once you add them. Multiple commodities can be added.
   Linked Invoice Number	Displays the invoice number of the commodity.
   Name	Displays the name of the commodity.
   Code	Displays the code of the commodity.
   Quantity	Displays the quantity of the commodity.
   Cost/Unit	Displays the cost per unit of the commodity.
   Gross Amount	Displays the total gross amount of the commodity. It is the product of the entered quantity and cost per unit. Gross Amount = Cost per unit * Quantity
   Discount	Displays the discount amount and percentage offered on the commodity.
   Tax	Displays the tax amount and percentage charged on the commodity.
   Net Amount	Displays the net amount of the commodity. It is automatically calculated as follows: Net Amount = Gross Amount – Discount + Tax
   Actions	Indicates the actions that can be performed on the commodity record. Click to edit the record. Click to remove the record. The following fields are present below the Commodity Details section, and are applicable at the invoice-level.
   Gross Credit Note Amount	Displays the total gross amount of all the added commodities.
   Discount	Displays the total discount amount of all the commodities added. The average discount percentage of all added commodities is also displayed. Click to reset the values. Total Discount % = (Total discount amount / Total debit note amount) *100 Note: When commodity records are added, the discount value of each commodity is aggregated and populated here. This value cannot then be modified. However, if commodity records are not added, then this field is editable and the discount value or percentage can be entered here.
   Tax	Displays the total tax amount of all the commodities added. The average tax percentage of all added commodities is also displayed. Click to reset the values. Total Tax % = (Total tax amount / Total debit note amount) *100 Note: When commodity records are added, the tax value of each commodity is aggregated and populated here. This value cannot then be modified. However, if commodity records are not added, then this field is editable and the tax value or percentage can be entered here.
   Miscellaneous Charges	Add the name and amount of any other miscellaneous charge applicable. Use to add another charges. A maximum of 2 miscellaneous charges can be added. Click to reset the values.
   Net Credit Note Amount	Displays the overall credit note amount that is owed to the buyer. Note: The Net Credit Note Amount gets automatically calculated as follows: Net Credit Note Amount = Gross Credit Note Amount - Discount Value + Tax Amount.
   	Indicates an option to reset the fields. This icon is present on the top right corner of the screen.

6. Modify the amount in the Credit Note Amount field above the Commodity Details section, to match the Gross Credit Note Amount, of all commodities.
7. Click Save to save the debit note. Or, do one of the following:
   • Click Save and Copy to save the credit note and to create an editable copy.
   • To clear the fields, click the icon in the top right side of the screen

   Figure 5-5 On Clicking Save

   
   

   
   Description of "Figure 5-5 On Clicking Save"

   
   

   Note:

   On clicking the Save button, the credit note being created appears in a panel with in the top right corner. Click this icon to edit / copy / delete the credit note, if required
8. To create another new credit note in the transaction, click the Add Credit Note link.
   1. Add required details as mentioned in the steps above.
9. Click Submit to submit the transaction, once all required credit notes have been added. The Review screen appears. Or, do one of the following:
   • Click Cancel to cancel the transaction.
   • Click Back to go to the previous screen.

   Figure 5-6 Create Credit Note – Review Screen

   
   

   
   Description of "Figure 5-6 Create Credit Note – Review Screen"

   
   
10. In the Review screen, verify the details and click Confirm. A confirmation message appears with the reference number and status of the transaction.
    • Click Cancel to cancel the transaction.
    • Click Back to go to the previous screen.

    Figure 5-7 Create Credit Note – Confirmation Screen

    
    

    
    Description of "Figure 5-7 Create Credit Note – Confirmation Screen"

    
    

    Note:

    You can view the details of the credit note just created, by clicking the ‘Click here to view status of Credit Note’ link.
11. Click the Save as Template link to save the details of the created credit note as a template. Or, do one of the following:
    • Click the View Credit Note link to view the details of existing credit notes. The View Credit Note screen appears.
    • Click the Create Credit Note link to create another credit note.
    • Click the Go To Dashboard link to go to the main dashboard.