Disbursing Credit Notes for Client/Trust Accounting

  • Updated

For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.

This article guides you through the process of disbursing unallocated credit notes to a tenant within your Client/Trust Account.


Directly Credit an Invoice

Credit notes are used to acknowledge and rectify invoicing errors, or to refund overpayments to tenants. Creating a credit note from an invoice is a straightforward process:

  1. Open the relevant invoice and click the Contextual Menu [...], then select Credit Invoice.
  2. The fields in the credit note will automatically populate. Review these details for accuracy and make any edits if necessary.
  3. Once you are satisfied with the information, Save or Issue the credit note according to your standard operational procedures.

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Disbursing Unallocated Credit Notes

A credit note that has been approved but not yet allocated to a specific invoice can be disbursed back to the tenant. For users dealing with Client/Trust Accounts, this is generally carried out via the creditor disbursement process. It's important to be aware that unpaid Income Credit Note amounts might be withheld from the property owner during disbursements, this depends on the date of the disbursement and the specific settings of your Client/Trust Account.

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Remember, disbursements against credit notes will reflect on the Owner Statements. To ensure these entries appear following their application to invoices, you must use the 'Separate balances statement for each ledger' statement format. 

For comprehensive instructions on processing disbursements, refer to Disbursing Funds from the Client/Trust account.

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