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Credit and rebill a transaction

Posted on February 28th, 2014 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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Sometimes the simplest way to manage a credit transaction is to credit and rebill.

You credit the entire balance of an invoice, duplicate the original invoice and update the duplicate with the correct information, then resubmit to the customer.

Common scenarios for credit and rebill include:

  • A customer indicates that an invoice does not reflect the correct price of a product or service. The customer requests a new invoice with the correct information.
  • A customer wants to correct their accounting directly in the subledger, instead of making a manual journal entry in general ledger. With credit and rebill, the credit memo reverses the accounting of the original invoice, and the updated duplicate invoice creates new accounting for posting to general ledger.
  • The customer wants to change the bill-to information on a posted transaction.

Usually, The credit and rebill actions are performed in few steps and will create the credit bill and the new rebill.

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