Converting Billing Documents to Credit Notes

You can roll back complete billing documents generated during a billing run. To achieve this, you can convert billing documents of type Invoice to credit notes. This creates a new billing document of type Credit Note to match the invoice. You can choose whether to allow billing schedules for that invoice to be rebilled at a later date.

If a usage record was used to calculate the quantity for a billing document line, the Billing Document Line Item field on that usage record is cleared if the option to allow the invoice to be rebilled was selected.

You can optionally exclude the values in custom fields from being copied to the credit note. Do this using the Exclude Fields on Convert to Credit Note feature in Feature Console. Simply add the custom fields to the list of fields to be excluded. For more information, see Exclude Fields on Convert to Credit Note.

If your organization uses the Billing Central to FinancialForce Accounting integration, the billing document is posted to FinancialForce Accounting as transactions when the document is converted to a credit note. If a billing document fails to successfully post to FinancialForce Accounting transactions, you can retry the action. See Posting Billing Documents to Accounting.

Notes:

You can only convert complete billing documents of type Invoice that have not already been converted to a credit note.

If you choose the option to allow rebilling, related billing schedules are updated to reflect that billing has been rolled back.

Two notifications are sent when billing documents are converted. One notification is sent to indicate that the conversion is complete and a second notification indicates that the process to update the Total Billed field on related contracts is complete.

Converting Several Documents

To convert several billing documents:

  1. Select the billing documents you want to convert in the list view on the Billing Documents tab.
  2. Click Convert to Credit Notes.
  3. [Optional] In the Bulk Actions panel, select Credit Note Reason from the first drop-down list then select the reason for raising the credit notes from the second drop-down list. Click Apply to All Rows to copy the reason to all the rows in the grid. You can set different reasons for individual documents by editing the Credit Note Reason field on a specific row.
  4. [Optional] If you are using the integration between Billing Central and Accounting, the first drop-down list in the Bulk Actions panel might contain Accounting fields that can be overridden.
    1. Select Period Override from the drop-down list to override the period that each credit note is posted to. Enter the name of the preferred Accounting period in the adjacent field then click Apply to All Rows to copy it to all the rows in the grid. You can set different period overrides for individual documents by editing the Period Override field on a specific row. If a period override was entered on the original invoice, that period is set on the row by default. If the Period Override field on a row is left blank, the period is derived from the credit note's document date.
    2. Select Document Rate from the drop-down list to override the exchange rate used to convert each credit note's value from document currencyClosedThe currency in which values are entered on a document. to home currency. Enter the preferred exchange rate in the adjacent field then click Apply to All Rows to copy it to all the rows in the grid. You can set different rates for individual documents by editing the Document Rate field on a specific row. If the document rate was overridden on the original invoice, that rate is set on the row by default. If the Document Rate field on a row is left blank, the exchange rate stored in FinancialForce Accounting is used.
    3. Select Dual Rate from the drop-down list to override the exchange rate used to convert each credit note's value from home currency to dual currencyClosedA corporate currency used for reporting purposes.. Enter the preferred exchange rate in the adjacent field then click Apply to All Rows to copy it to all the rows in the grid. You can set different rates for individual documents by editing the Dual Rate field on a specific row. If the dual rate was overridden on the original invoice, that rate is set on the row by default. If the Dual Rate field on a row is left blank, the exchange rate stored in FinancialForce Accounting is used.
    When a field is selected in the drop-down list, you can click Clear from All Rows to clear the value for that field from all the rows in the table. This clears the field, it does not revert it to the original value.
  5. [Optional] If you want to allow a billing document to be rebilled at a later date, select its Allow Converted Invoice to be Rebilled checkbox. When selected, the Billing Document Line Item field on related billing schedules is cleared.
  6. Click Convert to Credit Notes. A background process runs to update the Total Billed field on related contract line items. Depending on how your org is configured, you might receive a notification when the process is complete.

Converting a Single Document

To convert a single billing document:

  1. Click Convert to Credit Note on the billing document you want to convert.
  2. [Optional] If you want to allow the billing schedules for the document to be rebilled at a later date, select its Allow Converted Invoice to be Rebilled checkbox. When selected, the Billing Document Line Item field on related billing schedules is cleared.
  3. [Optional] Select the reason for raising the credit note.
  4. [Optional] If you are using the integration between Billing Central and Accounting:
    1. When the Period Override field is available, you can override the period that the credit note is posted to. Do this by entering the name of the preferred Accounting period. If a period override was entered on the original invoice, that period is set by default. If the field is left blank, the period is derived from the credit note's document date.
    2. When the Document Rate field is available, you can override the exchange rate used to convert the credit note's value from document currencyClosedThe currency in which values are entered on a document. to home currency. If the rate was overridden on the original invoice, it defaults to that rate. If you leave this field blank, the exchange rate stored in FinancialForce Accounting is used.
    3. When the Dual Rate field is available, you can override the exchange rate used to convert the credit note's value from home currency to dual currencyClosedA corporate currency used for reporting purposes.. If the rate was overridden on the original invoice, it defaults to that rate. If you leave this field blank, the exchange rate stored in FinancialForce Accounting is used.
  5. Click Convert to Credit Note. A background process runs to update the Total Billed field on related contract line items. Depending on how your org is configured, you might receive a notification when the process is complete.
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