Credit Note Sundry

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From any screen within RMSWeb

Click once on Setup on the Navigation bar
Choose Accounting from the list
Choose Sundries from the sub list
Click once on Add

Credit Note:
This option allows you to apply a negative charge to an account in RMS, in essence a credit.
This is general information only as properties frequently have established practices when applying credit notes/ refunds etc to accounts. Your accountant should be consulted to determine the best procedures for your property.

Please be aware of the ramifications of using assigned and unassigned credit notes, journals and vouchers to adjust accounts in RMSWeb.
Select if this is to be a credit charge. The account balance will be reduced by the amount of the credit applied, or a credit balance will be increased.
Particularly when using accrual accounting, the credit should be an assigned credit, allowing RMSWeb to adjust the general ledger account and making the credit funds available for refund, if appropriate.
 
Unassigned credit notes can be used to apply a negative charge to a customer account, but unallocated credits do not release funds for refund purposes.
The Unassigned credit note will reduce the amount of the 1st available charge that has not yet been funded fully by a receipt.
Unassigned discounts should never be used to put an account in credit for the purpose of providing a refund.
 
Unassigned Credits do not show separately on the cash reports and will eventually reduce the amount of another charges account code total by the amount of the credit note.
Unassigned Credits do show separately on the charge reports.

1. Enter a Description Enter a Description which is descriptive of the credit. It is this description which appears on client accounts and statements.   2. You may enter a sell Price Level 1 If the price is constant enter the price here. If the price is variable, leave the field blank and enter the appropriate price when placing the credit on an account. NOTE: The price you enter must be a negative figure For Example -10.00 3. Associate a GL Code Used for reporting purposes, the GL Code associated is where the income will appear on revenue reports. 4. Select the appropriate Tax Type Select the Tax type to apply. If you are unsure please seek advice from your accountant. 5. Tick the option Credit Note, then choose if you wish to mark the credit as assigned or unassigned. See above for an explaination of the difference between an assigned and an unassigned credit. 6. Associate a Property: If the credit can be used for all properties leave the default ALL If the credit can only be used at 1 property, select the property name from the drop down selection. 7. Click once on Save/Next to enter further Sundries. Click once on Save/Exit when complete.

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